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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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Wednesday, 01 September 10
JAKARTA TO HOST MAJOR INTERNATIONAL MINING EVENT
COALspot.com: (Press Release) In October 2010, the Indonesian Mining Association (IMA) and the Indonesian Coal Mining Association (APBI) will host t ...
Tuesday, 31 August 10
CIL MAY SET UP POWER PLANT TO UTILIZE EXCESS COAL
The Economic Times reported that, the world's largest coal producer Coal India Ltd (CIL) said it may consider setting up power plants in the countr ...
Tuesday, 31 August 10
NALCO SEEKS STAKES IN INDONESIAN COAL MINES
Economic Times reported that, National Aluminium Co. Ltd said on Tuesday it wants to buy stakes in Indonesian coal mines to secure supplies fo ...
Tuesday, 31 August 10
CAPESIZE RATES ON VOLATILE MOVEMENT
With Monday a holiday for London’s stockmarket (Bank Holiday), the dry bulk market took a breather before presenting ship owners and charterer ...
Monday, 30 August 10
MUNDRA PORT BEGINS OPERATIONS AT NEW TERMINAL IN GUJARAT
Economic Times reported that, Adani group firm Mundra Port has commenced operations at its 20-million tonnes port at Dahej in Gujarat, the company s ...
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- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- White Energy Company Limited
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Australian Coal Association
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
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