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Thursday, 05 August 10
IRON ORE EXPORT BAN COMPOUNDS PROBLEMS OF INDUSTRY - BUSINESS STANDARD
 Forex loss of Rs 300 crore (US$ 65.63 million) ; truckers, ports, Railways bear the brunt
The Karnataka government’s move to ban the export of iron ore as well as suspension of permits to transport iron ore for export from the mines, to curb illegal exports, has had a ripple effect in the state, as reported by Business Standard.
The operations of as many as 30 export-oriented units have come to a grinding halt in Karnataka as over 1 million tonnes of iron ore is lying idle at various ports causing a foreign exchange loss of around Rs 300 crore (US$ 65.63 million) in the last one week, Basant Poddar, vice chairman, Federation of Indian Mineral Industries (FIMI), told Business Standard.
In addition to this, the freight loss to the Indian Railways is in the order of Rs 80 crore (US$ 17.501 million) and Rs 40 crore (US$ 8.750 million) for truckers for moving the cargo from the mines to various ports. The loss of wharfage charges for the ports is in excess of Rs 3.5 crore (US$ 0.765 million). Apart from this, the state government itself has seen a loss of Rs 30 crore (US$ 6.563 million) by way of royalty from the mining companies ever since the ban came into effect during the past week.
With effect from July 26, the state banned export of iron ore and stopped issuing permits to transport iron ore for export from July 28 onwards. Presently, 80 mine lease holders are operating in the state and exports about 30 million tonnes of iron ore annually.
Export-oriented units like Mineral Enterprises Ltd, Sesa Goa Limited, Deccan Mining Syndicate Pvt Ltd, KMMI Group, Kuminex Minerals Pvt Ltd, Alfa Exports and Doddannavar Brothers are likely to face penalty from overseas buyers. These companies cannot even sell to the domestic buyers unless they export at least 50 per cent of their total produce in a year, Poddar said.
The companies are losing lakhs of rupees as demurrage charges for holding up ships at the ports. For each day’s delay they have to pay $20,000 as demurrage charges. For example, Sesa Goa Ltd, a leading exporter of iron ore from India, has had one ship at the New Mangalore Port since July 30 for the lack of iron ore.
“We have already seen the diversion of four ships from ports in Karnataka due to the ban on exports. Port officials are not allowing us to load the cargo because of the ban orders,” he said. Presently, 600,000 tonnes of iron ore is lying at the New Mangalore Port, 300,000 tonnes at Belekeri port and 100,000 tonnes at Karwar port.
According to officials at New Mangalore Port Trust (NMPT), the only major port in Karnataka, the iron ore cargo movement has seen considerable drop in the last four months due to intermittent ban on movement of iron ore cargo by road by the deputy commissioners of Dakshina Kannada, Udupi and Hassan districts.
Apart from the economic loss, the ban on iron ore exports is also likely to cause environmental issues. The mining companies are presently stocking over 6 million tonnes of iron ore fines at their mines. “As we cannot store fines for long, it may get into the atmosphere through air and water leading to greater damage to the environment,” Shantesh Gureddi, chairman, FIMI, Southern Region, said.
Most importantly, a huge number of persons employed directly and indirectly will be thrown out of jobs. At least 5,000 people are directly employed in mining operations and another 50,000 in ancillary works. Over 40,000 trucks are engaged on a daily basis to transport the ore.
“If the state government does not revoke its order, the industry will be forced to file a case in the court to get it revoked as the government does not have any power to impose ban,” Gureddi said.( 1 INR = 0.0218771 USD 1 USD = 45.7100 INR)
Source: Business-Standard
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Monday, 11 October 10
INDONESIAN POWER PLANTS AND OTHER INDUSTRIES TO BURN 78.97 MLN TONS OF COAL IN 2011
COALspot.com: The Minister of Energy and Mineral Resources of Indonesia has issued a ministerial degree 2360 K/30/MEM/ 2010 related to Domestic mark ...
Monday, 11 October 10
COAL IMPORTS TO START IN 2015 - VIETNAM BUSINESS
Vietnam Business reported that, Viet Nam is now likely to import coal only from 2015, not 2013 as earlier forecast since many thermal power pl ...
Monday, 11 October 10
OCTOBER INDONESIAN COAL PRICE REFERENCE UP BY 2.92 PERCENT
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Saturday, 09 October 10
MPPGCL SEEKS TO BUY 0.40 MLN MT OF COAL FOR ITS THERMAL POWER STATIONS
COALspot.com: India's Madhya Pradesh Generating Company Limited (MPPGCL), Jabalpur, Madhya Pradesh invites bidders through tender 07-03/Import/Coal ...
Saturday, 09 October 10
FREIGHT MARKET IS EXPECTED TO FIRM UP NEXT WEEK CAPT REDDY
COALspot.com: Inspite of Chinese holidays the BDI was up by 10 pct and closed at 2,696 points. The cape index shot up to 20 pct and closed at 4,076 ...
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- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- White Energy Company Limited
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- Bangladesh Power Developement Board
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- Global Green Power PLC Corporation, Philippines
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- Africa Commodities Group - South Africa
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- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
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- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
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- Power Finance Corporation Ltd., India
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- ICICI Bank Limited - India
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- Sical Logistics Limited - India
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- Rio Tinto Coal - Australia
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- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
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- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- London Commodity Brokers - England
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- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
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- IEA Clean Coal Centre - UK
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- Petron Corporation, Philippines
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- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
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- The University of Queensland
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- Indika Energy - Indonesia
- Eastern Coal Council - USA
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- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
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- Heidelberg Cement - Germany
- Eastern Energy - Thailand
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- Orica Mining Services - Indonesia
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- Indian Oil Corporation Limited
- The Treasury - Australian Government
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- Xindia Steels Limited - India
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- Wood Mackenzie - Singapore
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- Coal and Oil Company - UAE
- Parliament of New Zealand
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- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Australian Coal Association
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- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Planning Commission, India
- New Zealand Coal & Carbon
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- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
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- Price Waterhouse Coopers - Russia
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- CNBM International Corporation - China
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
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