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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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Tuesday, 13 October 09
INDIA INTERESTED IN AMERICAN COAL
UPI reported that, Coal India Ltd. in its global expansion efforts is now interested in coal properties in the United States.
The Business Standard ...
Tuesday, 13 October 09
RIVERSDALE MAY USE ZAMBEZI RIVER TO TRANSPORT MOZAMBIQUE COAL
Mining Weekly reported that, ASX-listed coal-miner Riversdale Mining would submit a feasibility study and an environmental-impact study (EIS) for it ...
Monday, 12 October 09
INDONESIAN COAL MINER SAYS PLANS IPO IN 2010
Reuters reported that, Indonesian coal miner PT Bhakti Energi Persada plans an initial public offering in the first quarter of 2010 to develop coal ...
Monday, 12 October 09
BISICHI MINING FINALIZES COAL SUPPLY CONTRACT FOR 2010-2012
Small Cap News reported that, Bisichi, the South Africa based coal mining group, has agreed a three year coal supply contract between its principal ...
Monday, 12 October 09
SHANDUKA BUYS SACMH RICHARDS BAY COAL ALLOCATION
* Shanduka Coal takes SACMH 500,000T export space
* RBCT must approve any change of ownership
Reuters reported that, South Africa's Shanduka Co ...
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- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
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- OPG Power Generation Pvt Ltd - India
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- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
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- Economic Council, Georgia
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- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
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- Banpu Public Company Limited - Thailand
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- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
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- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
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- Indian Oil Corporation Limited
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- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
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- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- VISA Power Limited - India
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
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- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- The University of Queensland
- Africa Commodities Group - South Africa
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- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Australian Coal Association
- Semirara Mining Corp, Philippines
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
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- Indian Energy Exchange, India
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- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
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- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
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- Indonesian Coal Mining Association
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- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Videocon Industries ltd - India
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- Petrochimia International Co. Ltd.- Taiwan
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- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
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- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
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- Kaltim Prima Coal - Indonesia
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- Siam City Cement PLC, Thailand
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- Directorate Of Revenue Intelligence - India
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- Planning Commission, India
- White Energy Company Limited
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
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- PowerSource Philippines DevCo
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- The State Trading Corporation of India Ltd
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