We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Thursday, 25 June 20
ALL YOU WANT TO KNOW ABOUT COAL MINE AUCTIONS - THE HINDU BUSINESS LINE
Last week, Prime Minister Narendra Modi threw open the auction of 41 coal blocks for commercial mining. The decision, which was part of the announcements made by the Centre under the Atmanirbhar Bharat Abhiyan, was already proposed in January through the Mineral Laws (Amendment) Ordinance, 2020.
What is it?
These auctions invite participants to mine coal blocks by bids on the percentage value of coal sold that they will be willing to share with the government. Successful bidders will obtain leasing rights from State governments to mine a coal block for a certain period.
What’s new about the recent auction of 41 coal blocks is that this is the first time private players have been allowed to mine coal for commercial mining purposes, without any end-use restrictions. That is, unlike now, mined coal can be sold outside. There is no requirement that it should be used only for the firms’ own consumption.
India has a long history of commercial mining, for about 200 years starting from 1774. In the second half of the 20th century, the government took note of the inadequate capital investments from private players to meet the burgeoning energy needs of the country. Some private coal miners were found to be using unscientific coal mining practices and providing poor working conditions for labour. This led to the Central Government taking a decision to nationalise private coal mines. The nationalisation was done in two phases, from 1971-1973. That’s how the Coal Mines (Nationalisation) Act, 1973 was enacted, which restricted coal mining operations mainly to government entities.
The recent decision to allow private firms to participate in the bidding process with a reduced upfront amount, the facility of adjustment of upfront amount against royalty, liberal operational efficiency parameters, and 100 per cent FDI through automatic route is a watershed moment for India’s energy industry. Further, allowing a revenue-sharing basis (a percentage of revenue share (final bid) has to be paid to the government on the sale of coal) as against the current mechanism of paying fixed rupee per tonne, may also encourage private players to take participation in the auction process.
Why is it important?
Despite India being the world’s fourth-largest country in terms of availability of coal reserves, we still import around 240 million tonnes (mt) of coal a year valued at about ₹1.7 lakh crore. Almost the entire requirement of coking coal, a key raw material for steel, is imported as the domestic availability of high-quality coking coal is limited. According to the Coal Ministry, the 41 mines opened for auction now can hit a peak production of 225 mt in 2025-26, saving precious foreign exchange.
The High Powered Expert Committee formed in 2017 to examine the efficacy and challenges in coal mining auctions recommended a gradual shift from the allocation of coal blocks for own consumption to allocation of blocks for commercial mining. It expected that commercial mining of coal would help tap the locally available reserves and increase the availability of coal in the Indian market at a cheaper price making us less dependent on imports.
Why should I care?
On launching the auction of 41 coal blocks last week, the Prime Minister said that coal would be brought out “after decades of lockdown” and private sector involvement would help realise ₹33,000 crore of capital investment in the next five years. Should private investments flow in, it can give a leg up to the economic activity within the country and play an important role in job and income creation.
In addition, higher production and surplus availability of coal may lead to fall in its prices, which may reduce the cost of electricity consumed by the households and industries. Currently, coal-fired plants generate about 70 per cent of India’s electricity.
But weighed against this, is the question of is whether this has this move come a little too late in the day, and will it see enthusiastic bidding? India’s energy mix is already shifting towards cleaner renewables, the cost of producing power through cleaner routes has been falling and global players are shying away from polluting fuel.
The bottomline
Its a fine balance between short-term cost savings and long-term environmental impact
A weekly column that puts the fun into learning
Source: Satya Sontanam | The Hindu Business Line
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Thursday, 11 June 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Wednesday, 10 June 20
OPEC+ CUTS EXTENSION TO ACCELERATE MARKET REBALANCING - FITCH RATINGS
Fitch Ratings-London-08 June 2020: The OPEC+ agreement to extend by one month record oil production cuts should accelerate market rebalancing, Fitc ...
Wednesday, 10 June 20
MARKET INSIGHT - INTERMODAL
In contrast to the economic projections of the past two years for the first half of 2020, the oil & gas industry and those involved in it faced ...
Wednesday, 10 June 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.19 PCT - XINHUA
China Taiyuan coal transaction price index stood at 123.71 points Monday, down 0.19 percent week on week.
The index, released by Chi ...
Tuesday, 09 June 20
BUNKER SUPPLY CONTRACTS - KEY CONSIDERATIONS FOR THE BUYER - GARD
KNOWLEDGE TO ELEVATE
Regardless of whether a buyer purchases fuel directly from physical suppliers or via brokers or traders and whether sale ...
|
|
|
Showing 916 to 920 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Planning Commission, India
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- SMC Global Power, Philippines
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- The University of Queensland
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- PTC India Limited - India
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
|
| |
| |
|
