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