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Wednesday, 15 June 11
INDONESIA NEW COAL POLICY WORRIES INDIA POWER FIRMS - MYDIGITALFC
 Tata Power, Adani group, Lanco Infratech and Reliance Power, among other Indian coal importers, are waiting to assess the impact of the Indonesian government attempts to benchmark its coal prices to international indices. The new system has the potential to increase the cost of thermal power generated using imported coal in India.
The new method that will come into effect from September attempts to link the royalties paid to the Indonesian government to an index of coal prices for Australian and South African coal in addition to others. But Indian firms said Indonesian coal is of lower calorific value and, hence, priced cheaper compared with Australian and South African coal.
Deepak Amitabh, director (corporate finance) of PTC, said there are lots of issues, which still need to be sorted before the coal prices are determined. “We are still not clear how the government will work out the price differentials between Indonesian coal and that produced by Australia or South Africa, for example. Also the spot prices are always costly compared with the long-term sales contracts. We need to find out if the long term contracts for Indonesian coal would be at discount to international market prices or not.”
In September 2010 the Indonesian government issued new regulations to determine the benchmark price for the sale of coal and minerals. The regulation proposes to peg the price for both domestic sales and export of coal to a ‘benchmark price’ for all the mining licensees. Dipesh Dipu, director, consulting (mining) at Deloitte in India said the new regulation will force companies to transact at market prices, which may be seen as raising the cost of delivered coal in India.
“When companies invest in Indonesia, they tend to have the intent to sell coal at cost, so that Indonesian business unit remained at no or negligible profits. Taking a holistic view, however, the cash flows in an integrated Indonesian coal mining and Indian power generation unit after this regulation will continue to be similar, except that income taxes will be paid in Indonesia, and the cash flows will need to be brought on the books on Indian power project after paying taxes in Indonesia through appropriate and innovative business structuring,” said Dipu.
Banmali Agarwala, executive director and head of business development at Tata Power said, “The increased pricing will definitely affect the cost of generation and we are trying to work out a strategy to handle the additional hike.”
Adani group that sources coal from its mines in Indonesia is also expected to be affected by this regulation, as Adani Enterprises has direct stake in Bunyu mines in Indonesia. Adani Power has contracted to procure 4.6 mtpa coal from Adani Enterprises at $36 per tonne. However, the total import requirement for present operational capacities is around 6 mtpa.
Vijaykumar Bupathy, senior analyst with Spark Capital Advisors, said in report that “Assuming a $50 per tonne increase in the free on board (FoB) price of coal, there would be Rs 1,040 crore incremental fuel cost to the group to the extent of the committed 4.6 mtpa of supply alone.” However, when Financial Chronicle contacted Adani Enterprises, the company said there will be no direct impact on the company, since its total cost of mining and transporting Indonesian coal to Mundra is $25 per tonne. The coal is sold to Adani Power at $36 per tonne. “Any hike in price would only increase the royalty payments by around $1 or $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Thursday, 11 August 11
INDO TAMBANGRAYA 1H NET PROFIT SOARS 53.09%
Coal miner PT Indo Tambangraya Megah Tbk (ITMG) today reported a 53.09% jump in net profit for the first 6 months of this year on the back of higher ...
Wednesday, 10 August 11
KILLARA RESOURCES TO ACQUIRE SIX COAL CONCESSIONS OF TASON HOLDINGS
COALspot.com - Killara Resources Limited, an Australian listed company has formed PT Tavesco Killara Energy (TKE), a joint company with PT Tavesco I ...
Wednesday, 10 August 11
RESOURCE NATIONALISM IS MAIN BUSINESS RISK FOR MINING SECTORS, E&Y SURVEY
Resource nationalism is top of the business risk list for mining and metals companies around the world, while supply capacity constraint issues cont ...
Wednesday, 10 August 11
INDONESIAN COAL MINING ASSOCIATION OPPOSES LOW-GRADE COAL EXPORT BAN
COALspot.com - The Indonesian Coal Mining Association (ICMA) frowns on and challenges the government plan to ban the low-grade coal export inf ...
Wednesday, 10 August 11
ABM INVESTAMA TO OFFLOAD 20% IPO
Integrated coal mining PT ABM Investama, affiliated company of Tiara Marga Trakindo Group, aims to dispose 20% stake during an initial public offeri ...
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- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- The University of Queensland
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- PTC India Limited - India
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
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