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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, 14 August 10
INDONESIAN THERMAL COAL PRICES EXPECTED TO MOVE UP IN SEPTEMBER 2010 - CHAIRMAN ICMA
COALspot.com: Indonesian Coal Mining Association is expecting, the Indonesian and international coal prices will increase, and will be reached ...
Thursday, 12 August 10
ETA STAR INDIA PUTS FORWARD COAL MINING PLAN FOR TETE, MOZAMBIQUE, IN 2011
ETA Star India Projects Pvt, which is carrying out coal prospecting and surveying work in the Moatize coal region, in Tete province, will present it ...
Thursday, 12 August 10
SUPRAS WERE FIXED IN THE MID/HIGH TEENS FOR INDO-INDIA TRIPS - FEARNBULK
Handy
Activity is gradually picking up in the Atlantic with more enquiries seen for short period tonnage for the end of August. With the grain sea ...
Thursday, 12 August 10
INDONESIAN COAL PRICE REFERENCE REACHED US$ 94.86 FOR AUGUST 2010 SUPPLIES
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Wednesday, 11 August 10
BRAZILIAN GIANT VALE LOOKING TO BOOST ITS COAL OUTPUT
BRAZILIAN mining giant Vale is not content with being the world's largest iron ore miner. The miner is banking on ambitious growth plans to see it ...
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- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
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