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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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Saturday, 02 October 10
FOUR INDONESIAN COAL FIRMS KEEN TO TIE UP WITH NALCO - SIFY
Sify reported that, Four Indonesian coal companies have shown interest to tie up with public sector National Aluminium Company (Nalco) for its 4 bil ...
Friday, 01 October 10
COAL TRADERS POWER FOREIGN ASSET BUYS - ECONOMIC TIMES
Economic Times reported that, the rush to own coal assets is leading to innovative alliances. are teaming up with utilities like , Reliance Power an ...
Thursday, 30 September 10
LOW CALORIFIC VALUE COAL MAY BE SOLD BELOW COAL REFERENCE PRICE IN INDONESIA
COALspot.com: Indonesia, the world’s largest coal exporter has issued another ministerial decree to regulate the selling price of coal of Indo ...
Thursday, 30 September 10
INITIAL PHASE OF MOATIZE MINING BY EARLY NOVEMBER - ALL AFRICA
All Africa report that, the initial phase of mining coal at Moatize, in the western Mozambican province of Tete, will begin by early November, and t ...
Thursday, 30 September 10
THE PANAMAX CONTINUED ITS DOWNWARD TREND FROM LAST WEEK - FEARNBULK
HANDY
Activity remains slow this week combined with a lack of fresh enquiry and tonnage over-supply in the Atlantic. Indexes are all negative exce ...
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- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Australian Coal Association
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
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