We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Wednesday, 04 August 10
MALAYSIA'S AGATE GROUP TIES UP WITH INDIA'S ECOGREEN TO DEVELOP COAL BUSINESS
COALspot.com: "Malaysian based AGATE Group had entered into an agreement with India's EcoGreen to jointly develop coal business in India ...
Wednesday, 04 August 10
ADARO PRODUCED 21.62 MILLION TONS OF COAL IN 1H 2010
COALspot.com: “Adaro Energy’s production volume during the second quarter of 2010 was 10.26 million tones and for the first half of 2010 ...
Wednesday, 04 August 10
CIL TO TAKE UP NEW PROJECT TO MEET INCREASED DEMAND OF COAL
As part of Annual Plan 2010-11, Planning Commission has projected all India demand of coal 656.31 Million Tonnes against which the indigenous supply ...
Tuesday, 03 August 10
INDONESIA CONSIDERING RUPIAH DENOMINATION
The jakarta post reportd that, the central bank is deliberating a potential Rupiah denomination in light of decreasing exchange rate valuations agai ...
Monday, 02 August 10
DRY BULK MARKET NEEDS TO FIND ADDITIONAL SUPPORT IN AUGUST
The dry bulk market ended another week of rebounding, posting on Friday its 11th straight rise. Still, as analysts point out the rate of this rise h ...
|
|
|
Showing 5681 to 5685 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Australian Coal Association
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Minerals Council of Australia
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
|
| |
| |
|
