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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, 18 August 10
MADHUCON TO START MINING AT SUMATRA BLOCK IN 2-3 MONTHS
DNA India reported that, Hyderabad-based Madhucon Projects is set to begin mining at one of its coal blocks in Indonesia in 2-3 months, said S Vaiku ...
Tuesday, 17 August 10
HANDIES AND SUPRAS WOKE UP AGAIN AFTER SEVERAL WEEKS OF LETHARGY - BRS
A spectacular increase in Cape size rates pushed the BDI up more than 20% this week, with demand for prompt tonnage in the Pacific causing a major s ...
Monday, 16 August 10
INDIA'S TNPL TO SUPPORT TNEB WITH COAL SUPPLIES
COALspot.com: TNPL to award 300,000 MT of coal supply contract to Nehel General Trading of India. Tamil Nadu state undertaking , Tamil N ...
Monday, 16 August 10
INDONESIA'S PLN SECURED COAL SUPPLIES, LESS IMPACT BY RAINS
COALspot.com: Indonesian State Electricity Company, PT Perusahaan Listrik Negara (PLN), has secured coal supplies for all of its power plants except ...
Sunday, 15 August 10
THE FREIGHT MARKET IS EXPECTED TO REMAIN FIRM - CAPT REDDY
COALspot.com: The BDI rose by almost 22 pct despite peak holiday season which is usually quite market , where as the BCI up sharply by 46 pct which ...
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- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
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- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
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- New Zealand Coal & Carbon
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- Altura Mining Limited, Indonesia
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- Central Electricity Authority - India
- Sojitz Corporation - Japan
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- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- MS Steel International - UAE
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
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