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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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- Tata Chemicals Ltd - India
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- Economic Council, Georgia
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
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- Simpson Spence & Young - Indonesia
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- White Energy Company Limited
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- PowerSource Philippines DevCo
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- Standard Chartered Bank - UAE
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- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
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- IEA Clean Coal Centre - UK
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- Minerals Council of Australia
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- Energy Link Ltd, New Zealand
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- Romanian Commodities Exchange
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- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
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- Eastern Coal Council - USA
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
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- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
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- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
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- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
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- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
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- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
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- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- The University of Queensland
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
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- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
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- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
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- Sarangani Energy Corporation, Philippines
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