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Friday, 28 May 10
CHINESE BAN TO HIT INDIAN IRON ORE EXPORTS
Nearly half of India's iron ore exports to China are in serious danger of being wiped out. The local government has imposed a ban on import of low grade iron ore while major Chinese companies are buying up ore mines with two billion worth of reserves in Africa. "The ban will surely have an effect because about 50% of our exports are low grade iron ore," Royston Machado, an industry consultant working jointly with China Inspection and Quarantine, said. India sold 107 million tonnes accounting for 18% of Chinese imports in 2009.
The ban came into effect after the China Iron and Steel Association (CISA) advised ore buyers at a conference to stop buying low grade ores. "CISA has not yet issued a formal notification but the ban is already having an effect," Machado said.
The ban has not caused uproar because businesses in India are still not feeling the pinch. China has more than two months of stocks and the offtake from steel mills is low. Another reason is that the Goa port, which ships nearly half of Indian ores to China, is closed for monsoon.
"A clear picture would emerge after the Goa port reopens in October and there is a strong demand. Indian exports would be seriously reduced unless the government reconsiders the ban," sources said. The move was followed by a decision by the National Development and Reform Commission giving a green signal for the purchase of two African mines with reserves totaling 2 billion tonnes.
Three Chinese companies including the Wuhan Iron & Steel, are jointly buying a mine with reserves worth 800 million tonnes at Soalala in Madagascar. Wuhan has also purchased controlling stakes in the Bong Iron Ore company based in Liberia. Bong has proven reserves of over 1.3 billion tonnes.
Source: Times of India / Hellenic Shipping
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Wednesday, 25 August 10
BUKIT ASAM OUT TO BECOME BIGGEST COAL PRODUCER
The Jakarta Post reported that, State-owned PT Batubara Bukit Asam Tbk intends to become the country's biggest coal producer in 2016 with productio ...
Wednesday, 25 August 10
GOVT SHOULD ALLOW DUTY-FREE IMPORT OF THERMAL COAL: ASSOCHAM
Industry body Assocham Wednesday said the government should allow duty free import of thermal coal to bring down power tariffs in the country.
&q ...
Wednesday, 25 August 10
INDIAS ADANI GROUP TO BUILD COAL RAILWAY IN INDONESIA
COALspot.com: India’s Adani Group, Indonesia’s state coal producer PT Tambang Batubara Bukit Asam (PTBA), and the South Sumatra provinci ...
Wednesday, 25 August 10
CME GROUP WILL LAUNCH NEW COAL CONTRACTS
Press Release: CME Group, the world’s leading and most diverse derivatives marketplace, today announced the launch of trading and clearing ser ...
Tuesday, 24 August 10
INDIA IMPORTS 1.3 MILLION TONS COAL LAST WEEK
COALspot.com: India has imported 1.3 million tons of non - Coking coal and 468,229 Mt of coking coal for the period 16 - 22 August 2010 ...
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- Edison Trading Spa - Italy
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- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
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- London Commodity Brokers - England
- MS Steel International - UAE
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- Minerals Council of Australia
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- Merrill Lynch Commodities Europe
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- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
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- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
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- Manunggal Multi Energi - Indonesia
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- Alfred C Toepfer International GmbH - Germany
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- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
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- Indian Oil Corporation Limited
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- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Marubeni Corporation - India
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- Pipit Mutiara Jaya. PT, Indonesia
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- Ministry of Transport, Egypt
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Economic Council, Georgia
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
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- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
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- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
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- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
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- Coal and Oil Company - UAE
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- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
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- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
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- IHS Mccloskey Coal Group - USA
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