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Friday, 30 September 11
MINING BILL CLEARED, FIRMS TO SHARE 26% PROFITS WITH LOCALS - NDTV
 NDTV reported that, The Union Cabinet cleared the draft mining bill aimed at regulating mining activities Friday. The bill proposes a profit-sharing system and bidding of mining rights. It will mandate coal companies to provide 26 per cent of post-tax profit for the welfare of affected people, a move intended to benefit mostly tribals.
Niraj Shah, Senior VP (Equity Research) at Fortune Financial Services (India) Ltd said, "The biggest negative will be on Coal India... 26 per cent profits would be transferred and will be calculated on previous years' profit. So, the EPS would be impacted."
Coal India slumped 3 per cent post the decision and was the top loser on the 30-stock Sensex.
Bhavesh Chauhan of Angel Broking said the biggest impact will be on Coal India followed by Hindustan Zinc. "For Coal India, there is a cushion of passing prices to customers because it sells coal at a subsidy," Mr Chauhan added.
Companies that have captive coal mines will also be affected, Mr Shah said. "Profit will be calculated on the basis of mine head costs and the transfer pricing, so power and steel companies will be impacted," Mr Shah added.
The Mines & Minerals (Regulation and Development) Bill, 2011, which seeks to replace a 1957 act, also provides for setting up of National Mining Regulatory Authority and Tribunal and formation of District Mineral Foundations in 60 mineral-rich districts across the country. The states will also be advised to set up authorities and tribunals on these lines.
The Bill, which advocates "sustainable and scientific" mining, also suggests non-coal miners like bauxite and iron ore firms to share an amount equal to that of royalty with local residents instead of just sharing profits.
A 10-member ministerial panel set up in June last year, has finalised the methodology ensuring that people in mineral-rich districts of Andhra Pradesh, Orissa, Chhattisgarh, Goa, Jharkhand, Karnataka, Madhya Pradesh, Maharashtra, Rajasthan, Uttar Pradesh and West Bengal get monetary benefits from mining.
If the bill is passed, an estimated amount of Rs. 10,000 crore (approximately US$ 2.042 billion) will be generated per year from miners and an average amount of Rs. 180 to 200 crore (approximately US$ 36,754,535 to 40,838,239) will be distributed among District Mining Foundations of 60 mineral rich districts that include 25 districts affected by Left Wing Extremism.
Mr Shah said money will be transferred to an escrow account that would be used for the benefit of the tribals.
Source: NDTV
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Friday, 18 September 20
INDIA'S COAL-FIRED POWER OUTPUT PICKS UP AS INDUSTRIAL USE RISES - REUTERS
India’s coal-fired electricity generation rose 9.4% in the first half of September, provisional government data showed, as demand from indust ...
Friday, 18 September 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 ...
Thursday, 17 September 20
LAST HOPES FOR DEMAND GROWTH SET TO DISAPPOINT THERMAL COAL EXPORTERS - IEEFA
Asian thermal coal exporters are fighting an uphill battle even in new markets
The world’s largest thermal coal exporter is eyeing new m ...
Wednesday, 16 September 20
MARKET INSIGHT - INTERMODAL
Another active week in terms of SnP has concluded in the dry bulk market with a diversified array of transactions recorded. Despite the correction ...
Friday, 11 September 20
IMO 2020: A REVIEW OF THE TRANSITION TO VLSFOS - GARD
KNOWLEDGE TO ELEVATE
Many predictions were made in the run up to the imposition of the MARPOL 2020 sulphur cap, none of which was that the tra ...
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- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
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