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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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Friday, 28 May 10
INDIAS NEYVELI LIGNITE EYEING INDONESIA, SOUTH AFRICA COAL MINES
Integrated mining and power producer Neyveli Lignite Corporation Thursday said it is exploring possibilities for buying coal mines in Indonesia and ...
Friday, 28 May 10
ADARO ACQUIRES 25% ICP AT US$ 335 MIO
Indonesia's second largest thermal coal miner PT Adaro Energy Tbk (ADRO) today announces formation of new joint venture for Indonesian Coal Project ...
Thursday, 27 May 10
KPCL IS LOOKING FOR 0.50 MLN TON TO IMPORTED STEAMING COAL FOR RAICHUR THERMAL POWER STATION
COALspot.com: KARNATAKA POWER CORPORATION LIMITED, India invited from reputed parties meeting the pre qualifications stipulated for the import ...
Thursday, 27 May 10
TNPL TO BUY 0.240 MLN TON NON-COKING COAL FOR SECOND HALF OF 2010
COALspot.com: Tamil Nadu Newsprint and Papers Limited (TNPL), would like to procure 0.24 mln MT of imported Non-Coking Coal in 6 Shipments of about ...
Thursday, 27 May 10
DRY BULK RATES REACH 2010 HIGHS, BUT FUTURE REMAINS UNCERTAIN
This week is proving to be a milestone for the dry bulk market, as the Baltic Dry Index has propelled itself at never before seen levels for 2010. Y ...
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- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Posco Energy - South Korea
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