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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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Wednesday, 13 January 10
ADHUNIK GROUP TO BUY 50 PCT IN AUSTRALIA MINE
The Adhunik group of Industries is in talks to acquire 50 percent in an Australian coking coal mine for $100 million, the Economic Times reported on ...
Wednesday, 13 January 10
COAL MARKETS 2010 CONFERENCE - SINGAPORE, 28 - 29 JANUARY 2010
COALspot.com (Press Release): As an established annual event that has been running for more than 7 years now with extensive industry support from ke ...
Wednesday, 13 January 10
IRON ORE PRICE TIPPED TO RISE 40PC, SAYS ANZ
THE price battle in the controversial iron ore negotiations is expected to intensify.
ANZ senior commodities analyst Mark Pervan has increased h ...
Wednesday, 13 January 10
KANGAROO RESOURCES KICKS OFF INDONESIAN COAL PRODUCTION
Coal-focused company Kangaroo Resources has formally joined the ranks of international coal operators after wrapping up the delivery and sale o ...
Wednesday, 13 January 10
CONSOL SELLS FIRST COAL TO CHINA
Coal and natural gas company CONSOL Energy Inc.made its first sale of high-volume coking coal to Asia from its Bailey Mine in Northern Appalachia. T ...
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- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
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- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
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- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
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- PTC India Limited - India
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- AsiaOL BioFuels Corp., Philippines
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- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Central Electricity Authority - India
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- Economic Council, Georgia
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- Merrill Lynch Commodities Europe
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- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
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- Anglo American - United Kingdom
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- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
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- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
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- SMC Global Power, Philippines
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- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
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- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
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- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
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- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
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- South Luzon Thermal Energy Corporation
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- Malabar Cements Ltd - India
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- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Planning Commission, India
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
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- Standard Chartered Bank - UAE
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- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
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- Thiess Contractors Indonesia
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- Ministry of Transport, Egypt
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- Independent Power Producers Association of India
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