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 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- White Energy Company Limited
- SMC Global Power, Philippines
- VISA Power Limited - India
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
|
| |
| |
|
