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Wednesday, 20 May 09
CIL MAY URGE NEW GOVERNMENT TO HIKE COAL PRICE - STEELGURU
BL reported that soon after assuming office the new government may be faced with a proposal for an increase in prices of coal by Coal India Limited in the H2 of the current financial year. This is to meet the rising cost of production, especially on account of the recent salary hike of employees and officers.
While officials in CIL and the Union Coal Ministry denied any such development, sources close to the development said that CIL had initiated the related spadework well before the Lok Sabha election and had proposed approximately 10% increase in prices.
Sources said that CIL has intimated the Union Coal Ministry that its annual wage bill is estimated to increase by INR 2,200 crore to INR 2,300 crore following implementation of the National Coal Wage Agreement and the Pay Commission recommendations.
It may be mentioned that soon after announcing the NCWA, the CIL Chairman indicated that a price revision was imminent, especially to ensure the viability of approximately 124 new projects.
Mr Partha S Bhattacharya chairman of CIL said “Despite our best efforts, the increase in costs may not be fully recovered by increasing production and productivity.” He, however, added that the company would take a call on this issue (price revision) after due assessment.
Meanwhile, coal prices were last increased by 10% in December 2007 after a gap of three years. According to CIL, domestic coal enjoys 50% to 60% price advantage over the landed cost of imported coal even after the meltdown.
Source:http://www.steelguru.com/news/index/2009/05/20/OTUxOTI%3D/CIL_may_urge_new_government_to_hike_coal_price.html
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Monday, 27 April 09
JSW ENERGY SET TO SNAP UP AFRICAN COAL MINE FOR $70 MN - ECONOMIC TIMES
Sajjan Jindal-led JSW Energy is close to acquiring a sub-Saharan African thermal coal mine, which has reserves of more than 200 million ...
Monday, 27 April 09
INDONESIA MINING RULES MAY DETER INVESTORS-OFFICIALS - REUTERS
Indonesia's rules on foreign divestment of mining projects must be revised to address issues such as finding buyers if Southeast Asia's biggest ec ...
Monday, 27 April 09
UNDERGROUND MINING IN FOREST AREAS NOT SO SIMPLE - THE JAKARTA POST
The government's plan to issue a presidential decree allowing mining companies to mine underground in protected forest concession areas has resulte ...
Monday, 27 April 09
COAL PRICES ABOVE FUNDAMENTALS - STUFF.CO.NZ
Coal prices have defied the gravity of fundamental factors, supported by stockpiling prompted by cheaper prompt prices rather than a reflextion of a ...
Sunday, 26 April 09
MITRA HOPES TO SECURE DEALS WITH TWO COAL FIRMS BY JUNE - THE JAKARTA POST
An integrated oil and gas services company, publicly listed PT Mitra Rajasa, is expecting to seal acquisition deals with two coal companies in June, ...
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- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
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- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
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- Latin American Coal - Colombia
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- IEA Clean Coal Centre - UK
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- Directorate General of MIneral and Coal - Indonesia
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- GAC Shipping (India) Pvt Ltd
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- Chamber of Mines of South Africa
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- New Zealand Coal & Carbon
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- Energy Link Ltd, New Zealand
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- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
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- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
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- IHS Mccloskey Coal Group - USA
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- Banpu Public Company Limited - Thailand
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- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
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- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
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- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
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- Billiton Holdings Pty Ltd - Australia
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- Deloitte Consulting - India
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- SMC Global Power, Philippines
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- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Dalmia Cement Bharat India
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