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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, 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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- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Australian Coal Association
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
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