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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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Friday, 03 September 10
NALCO, INDONESIAN FIRM DIFFER ON COAL SUPPLY TO SMELTER - DNA INDIA
A few days ago, National Aluminium Company (Nalco) advertised in Indonesian newspapers asking for companies to bid for coal supplies for its 500,000 ...
Thursday, 02 September 10
PLN ASKED TO USE LOCAL COAL
Tempo Interactive reportd that, the Indonesian Mining Association Executive Director, Priyo Pribadi, has called on the state-run electricity company ...
Thursday, 02 September 10
NALCO OPEN TO EQUITY DILUTION IN $3.9 BN PROJECT IN INDONESIA
Business-Standard reported that, state-owned Nalco today said it is considering selling stake in its $3.9 billion (over Rs 18,000 crore) aluminium p ...
Thursday, 02 September 10
DRY BULK MARKET GAINS MOMENTUM TO INCREASE, WITH CHINA ONCE AGAIN TO THE RESCUE
With predictions from Chinese officials stating that the country’s iron ore imports during 2010 could surpass the record amounts of 2009, the ...
Wednesday, 01 September 10
STC BAGS NTPC ORDER TO SHIP 12 MT COAL
My Digital FC reported that, The State Trading Corporation (STC) has bagged NTPC’s tender to ship 12 million tonnes coal from Ind&sh ...
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- Bhatia International Limited - India
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- Minerals Council of Australia
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
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- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
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- Deloitte Consulting - India
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- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
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- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
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- Energy Link Ltd, New Zealand
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- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
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- European Bulk Services B.V. - Netherlands
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- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
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- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
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