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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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Monday, 14 September 09
BOOM FORECAST FOR COAL OUTPUT
SMH.com reported that, A COAL investment boom is driving Australian production to new peaks even as our biggest export markets shift towards cleaner ...
Sunday, 13 September 09
COAL INDIA MAY ACQUIRE ASSETS OF RIO TINTO
Coal India’s plan to acquire overseas mining assets is gathering steam. After a breakthrough in Mozambique, the coal behemoth has received&nbs ...
Saturday, 12 September 09
THE INDIA / FAR EAST SEEMS WILL CONTINUE TO BE SOFT UNTIL THE IRON ORE MOVEMENTS PICKS UP - CAPT. REDDY
COALspot.com (Singapore): The dry bulk market continued to be stable at almost as same levels as last week and the BDI was at 2,468 points.
...
Saturday, 12 September 09
GOVT REQUESTS MORE TIME TO ACQUIRE 21% SHARES IN NNT
The Jakarta Post reported that, the government plans to request a postponement for the acquisition of 21 percent shares in PT Newmont Nusa Tenggara ...
Saturday, 12 September 09
INDONESIAN CO KEEN ON TRADING COAL FOR EQUITY IN POWER PROJECTS
Though most large power project promoters have their own mines in Indonesia, MEC is confident of convincing Indian companies as its price is quite a ...
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- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
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- Tamil Nadu electricity Board
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- The University of Queensland
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- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
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- Ministry of Mines - Canada
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- Ministry of Transport, Egypt
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- Samtan Co., Ltd - South Korea
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- Indo Tambangraya Megah - Indonesia
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- White Energy Company Limited
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- PowerSource Philippines DevCo
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- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
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- Deloitte Consulting - India
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- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
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- Bahari Cakrawala Sebuku - Indonesia
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- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
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- Power Finance Corporation Ltd., India
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- The State Trading Corporation of India Ltd
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- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Parliament of New Zealand
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- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
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- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
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- Bukit Asam (Persero) Tbk - Indonesia
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- Trasteel International SA, Italy
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- Bangladesh Power Developement Board
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- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
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- Independent Power Producers Association of India
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- Tata Chemicals Ltd - India
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- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Minerals Council of Australia
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- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
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