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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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Saturday, 17 July 10
BULLISH OUTLOOK FOR COKING COAL - MINING MX & HELLENIC SHIPPING
Mining Mx reported that, the coking coal market has better long-term fundamentals than the iron ore market, according to a recent research rep ...
Friday, 16 July 10
CHINA EXPORTS 10.14 MILLION TONNES OF COAL IN H1 OF 2010
China exported 10.14 million tonnes of coal in the first half of this year, down 13.1% compared with the corresponding period of last year, accordin ...
Thursday, 15 July 10
SMC TO PURSUE MINDANAO COAL MINING PROJECTS
Philippine Daily Inquirer reported that, DIVERSIFYING CONGLOMERATE San Miguel Corp. is inclined to pursue its coal mining projects in Mindanao ...
Thursday, 15 July 10
ADANI ENTERPRISES WILL BUY $1 BILLION COAL MINE FROM LINC ENERGY - TOP NEWS
Top News reported that, Adani Enterprises has almost managed to obtain a coal mine from Linc Energy for $1 billion in Queensland, Australia. This mi ...
Thursday, 15 July 10
ADANI TO DEVELOP COAL EXPORT TERMINAL IN AUSTRALIA - BUSINESS STANDARD
Business-Standard reported that, The Adani Group, promoter of Mundra Port and Special Economic Zone (MPSEZ), today said it has been selected as the ...
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- Central Java Power - Indonesia
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- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
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- Bangladesh Power Developement Board
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Heidelberg Cement - Germany
- Deloitte Consulting - India
- The University of Queensland
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- MS Steel International - UAE
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- Minerals Council of Australia
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- Sojitz Corporation - Japan
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- Pipit Mutiara Jaya. PT, Indonesia
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- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
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- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
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- GMR Energy Limited - India
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- Kalimantan Lumbung Energi - Indonesia
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- Carbofer General Trading SA - India
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- Cement Manufacturers Association - India
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- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
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- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
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- Africa Commodities Group - South Africa
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- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
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- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
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- Eastern Coal Council - USA
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- Economic Council, Georgia
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- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
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- Wood Mackenzie - Singapore
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
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- Antam Resourcindo - Indonesia
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- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Indian Oil Corporation Limited
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- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Krishnapatnam Port Company Ltd. - India
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- Savvy Resources Ltd - HongKong
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Thai Mozambique Logistica
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- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
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- Merrill Lynch Commodities Europe
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- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
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- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
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