COALspot.com keeps you connected across the coal world
  • OCTOBER 2021 INDONESIAN COAL PRICE REFERENCE FOR EXPORTS FIXED AT US$ 161.63 A TON
  • OCTOBER 2021 HBA FOR EXPORTS INCREASED BY $11.60 MOM, $85.79 YTM AND $110.63 YOY

Submit Your Articles
We welcome article submissions from experts in the areas of coal, mining, shipping, etc.

To Submit your article please click here.

International Energy Events


WTI Crude Oil

BRENT Crude Oil

Search News
Latest CoalNews Headlines
Monday, 05 September 11
INDONESIAN COAL BENCHMARK PRICE - ANALYSIS


Analyst : Sunil K Kumbhat
COALspot.com - As a part of the Government’s efforts to stop transfer pricing abuses which have resulted in the loss of production royalties in recent years Govt of Indonesia issued  Regulation No.17 of 2010 entitled "Procedures to Determine the Benchmark Price for Mineral and Coal Sales" .

Apart from  setting out the procedures to determine the benchmark price for the sale of coal and minerals, Regulation  imposes other obligations on mineral and coal producers (that is, the holders of Production Operation IUPs and IUPKs) when making sales.This move has been seen as important as the benchmark Coal price is expected to provide optimum price and help goverment in calculating potential State Revenue. The new regulations will allow the Indonesian government to get the right amount of royalty , and the taxable revenues from the sector will also move up to the correct levels. It will also stop the practice of transfer pricing. The government has put in a strong framework.

The following are some key points highlights the provisions of regulation  and the likely impact it will have on mine owners, including on their sales activities, royalty calculations and administrative obligations:

Obligation to follow benchmark price
Regulation  provides that mineral and coal producers are obliged to sell minerals and coal based on a regulated benchmark price, whether for domestic or export sales.

The benchmark pricing obligation applies to all minerals and coal sales to third parties, including to any affiliate of the mineral and coal producer (which includes any party that has direct ownership in the holder of a Production Operation IUP or a Production Operation IUPK as well as any party that may indirectly influence the decision-making of such holders).

Determination of benchmark price
Regulation  provides that the benchmark price for  minerals and coal will be determined by the Director General of Minerals and Coal (DGMC) .  The benchmark price for non-metallic minerals and rocks will be determined by either the Governor or the Regent/Mayor, as appropriate.

Different methods will be used to determine the benchmark price for different commodities. For metallic minerals, the DGMC will determine the benchmark price for each metallic mineral monthly using a formula that refers to international market prices. For coal, the DGMC will determine separate benchmark prices for metallurgical coal, thermal coal and low rank coal monthly.No formal definition of low rank coal exists , however in the past ;MEMR has referred to low rank coal as any coal with  gross calorific value( ADB Basis) of less than 5100 kca/kg. The benchmark price for metallurgical and thermal coal will use a formula that refers to the average coal prices based on local and international market indices.As a system  government will determine Coal Price Reference (Harga Batubara Acuan or HPA) by averaging the calorie value of coal in four coal price indexes, namely :

1.Newcastle Coal Index,
2.Global Coal Index,
3.Platts and
4.Indonesia Coal Index (ICI).


The first two indexes represented international price, while the last two indexes represent local coal prices. Each coal category has a weight of 25 percent.  The coal category will divided based on coal quality, which is set at 6,322 kcal/kg (arb), moisture content at 8 percent (arb), sulfur content of 0.8 percent (arb), and ash content at 15 percent (arb).

After determining the Coal Price Reference (HBA), the benchmark coal price (HPB) is then determined. There will be 8 benchmark prices category, representing the quality of the coal, starting from 4,200 up to 7,000 kcal/kg.

For that price of coal other than 8 classes of HPB, prices are determined by interpolation approaches or determining HPB based on a certain formula.

Sales of minerals and coal
The benchmark price is set on the basis of the price paid for Coal at the point of Sale by way of FOB Vessel. Sales of metals, ore, concentrate or other intermediary products can be made :

1.Free on Board (FOB) mother vessel or
2.FOB barge basis.
3.Sales can also be made to end users domestically or in the form of Cost Insurance Freight (CIF) or
4.Cost and Freight (C&F).


In calculating the sales price for FOB mother vessel sales for royalty payment purposes, holders of Production Operation IUPs for metallic minerals must refer to the benchmark price. For  sales that are not made FOB mother vessel basis (including FOB barge sales), the benchmark price may be adjusted by adding or subtracting an amount based on certain recognised costs approved by the DGMC.

While the principle of deducting certain costs from the benchmark price for the purpose of royalty calculations would appear to be reasonable, Regulation  leaves open the possibility that there may be costs that could adjust the benchmark price by being added to, rather than being subtracted from, the benchmark price. The circumstances under which costs would be added to the benchmark price are not yet regulated.

Adjustments can include costs incurred for barging, survey, trans-shipment, treatment as well as refinery and/or metal payable and/or insurance costs. For coal, sales are contemplated in the form of FOB mother vessel, FOB barge, within an island to an end user or on a CIF or CF basis. In calculating the sales price, holders of Production Operation IUPs for coal to be sold FOB mother vessel must refer to the benchmark price. Again, for non-FOB mother vessel sales (including FOB barge sales), certain costs may be added or subtracted as approved by the DGMC.

Under the new sales price regime for coal, the production royalty for FOB mother vessel sales will effectively also be imposed on barge transportation and trans-shipment costs (as well as survey and insurance costs), which are not able to be subtracted from the selling price.

Accordingly, all royalties for FOB mother vessel sales are now assessed on the full delivered cost FOB mother vessel without adjustment for costs. Regulation  provides that further details on the procedures to determine the amount of “adjustment costs” will be set out by the DGMC in a separate DGMC regulation.

Benchmark Price for calculation of royalties
For royalty calculations, regulation  provides that for minerals and coal sales made FOB mother vessel basis, the Government will take the higher of the contractually-agreed price or the benchmark price.  On the other hand, for non-FOB mother vessel sales such as mineral or coal sales by way of FOB barge, the production royalties will be calculated using:

• (a) the contracted sales price, if the contracted sales price is higher than the benchmark price, after adding or subtracting the adjustment amount (adjusted benchmark price); or
• (b) the adjusted benchmark price, if the sales price is the same as or lower than the adjusted benchmark price.

Post sales Reporting
Coal producers are required to submit post-sales reports on the sales of their mineral and coal commodities every month, together with supporting information including invoices and bills of lading,quality reports and barging Costs as well as export declarations and surveyor reports for exported commodities. This  new reporting obligations will add significant  administrative burdens to mining companies.

Sale of coal for certain purposes
Coal of certain types (including fine coal, reject coal and coal with certain impurities) for domestic use may be sold below the coal benchmark price, upon approval of the Govt (DGMC) which  will issue separate  regulations regarding what types of coal will fall within this exception.

Similarly, coal to be used for certain purposes in the domestic market may be sold below the coal benchmark price, upon approval of the Govt.

The Govt will issue further regulations on the purposes that will be exempted. Regulation  indicates that coal used for individual needs  or for the development of underdeveloped or poorly developed regions will be exempted from the benchmark pricing requirements.

Impact on existing coal and/or mineral sales contracts


All existing supply contracts ( Both Spot and term Contracts) with Indonesian mining firms will have to be brought in line with this new benchmark regulations by 22nd September 2011. Spot sale contracts must be adjusted by no later than six months after the effective date of Regulation No. 17 (that is, by 22 March 2011).

Term sales contracts must be adjusted by no later than 12 months after the effective date of Regulation No. 17 (that is, by 22 September 2011).

Sanctions
Regulation provides that the Government can impose a range of administrative penalties on mineral and coal producers who fail to comply with the provisions of Regulation.

Penalties range from written warnings, temporary suspension of sales, and ultimately, cancellation of the licences’. Due to the severity of such sanctions, mining companies will need to pay particular notice to the requirement of this new regulation.


Indian Impact
For India, the situation will be aggravated by stagnation in domestic production even as demand has increased. With up to 100,000 MW of capacity addition likely in the 12 th plan period starting next year, more coal-based projects may need to scout overseas for fuel.

Three to five years back, domestic coal production was able to keep pace with the demand from power producers. However in 2010, domestic production has remained at a flat level, while there has been a sudden increase in demand from Indian power companies.

With a substantial part of its imported coal requirement already coming from Indonesia, India’s appetite is expected to grow further. India's coal imports from Indonesia are rising every year. In 2010, it overtook Japan to become the second largest importer of Indonesian coal after China. It is expected that  India may become the biggest importer of Indonesian coal in 2012.

The regulation is likely to increase the price of coal mainly for all Indian Power  Projects  using imported coal from Indonesia. The impact on the tariff of such projects may vary, depending upon the quality of imported coal and fuel mix. All existing supply agreements with Indonesian mining firms will have to be brought in line with this new benchmark by 22nd September 2011. The implementation of this new regulation will adversely impact all existing and future Coal based power plants importing Coal from Indonesia.The new regulations will allow the Indonesian government to get the right amount of royalty , and the taxable revenues from the sector will also move up to the correct levels. It will also stop the practice of transfer pricing. The government has put in a strong framework.

Given the long-term demand fundamentals, current high coal price scenario may continue to squeeze margins (of Indian power producers). This may well be the end of the road for cheap Indonesian coal.

Conclusion
Whilst the intention behind the minimum pricing regulation is to stop transfer pricing abuses which according to Govt, have plagued the Indonesian mining industry( particularly the Coal mining Industry) over recent years, the question is whether this intention has been implemented in a way which is inconsistent with genuine , arms -length commercial practices which exist in the market. (updated on 5 Sept 2011)
Analyst By : Sunil K Kumbhat

The views and opinions / conclusion expressed on this analysis is purely the writers’ own



If you believe an article violates your rights or the rights of others, please contact us.

Recent News

Wednesday, 13 October 21
MARKET INSIGHT - INTERMODAL
Following up on our insight on May 2021, where we discussed about the Capesize market outlook for the second half of the year, we are pleased to se ...


Wednesday, 13 October 21
FBX INDEX: THE IMPOSSIBILITY OF SHORT-TERM FORECASTING - LARS JENSEN
Will freight rates on Asia-Europe or the Transpacific reach 40.000 USD/FFE in the run-up prior to Chinese New Year 2022? Or will they start droppin ...


Wednesday, 13 October 21
CHINA FLOODS: COAL PRICE HITS FRESH HIGH AS MINES SHUT - BBC
The price of coal used in China’s power plants has surged to a new record high as another of the country’s key mining regions is hit by ...


Tuesday, 12 October 21
BUMA SIGNS CONDITIONAL AGREEMENT FOR AUSTRALIAN ASSET ACQUISITION
PT Tbk. announced that its subsidiary, PT Bukit Makmur Mandiri Utama, through its newly incorporated Australian subsidiary, BUMA International Pty ...


Tuesday, 12 October 21
INDONESIA'S COAL-BASED POWER PLANTS ARE SUBJECT TO CARBON TAX NEXT YEAR, ELECTRICITY COSTS COULD RISE! - CNBC
The Indonesian government is planning plans to implement a carbon tax of IDR 30 per kilogram (kg) of carbon dioxide equivalent (CO2e) or equivalent ...


   5 6 7 8 9   
Showing 31 to 35 news of total 6439
News by Category
Popular News
 
Total Members : 27,602
Member
Panelist
User ID
Password
Remember Me
By logging on you accept our TERMS OF USE.
Free
Register
Forgot Password
 
Our Members Are From ...

  • NALCO India
  • Kepco SPC Power Corporation, Philippines
  • SMC Global Power, Philippines
  • Lanco Infratech Ltd - India
  • Bukit Asam (Persero) Tbk - Indonesia
  • Truba Alam Manunggal Engineering.Tbk - Indonesia
  • TANGEDCO India
  • Bulk Trading Sa - Switzerland
  • MS Steel International - UAE
  • Asia Cement - Taiwan
  • Mitra SK Pvt Ltd - India
  • Xstrata Coal
  • PowerSource Philippines DevCo
  • Moodys - Singapore
  • Marubeni Corporation - India
  • Asmin Koalindo Tuhup - Indonesia
  • Orica Australia Pty. Ltd.
  • Manunggal Multi Energi - Indonesia
  • Meenaskhi Energy Private Limited - India
  • Asian Development Bank
  • Japan Coal Energy Center
  • Total Coal South Africa
  • GB Group - China
  • Star Paper Mills Limited - India
  • Renaissance Capital - South Africa
  • Deutsche Bank - India
  • Pinang Coal Indonesia
  • Makarim & Taira - Indonesia
  • Vitol - Bahrain
  • Bhatia International Limited - India
  • TNPL - India
  • HSBC - Hong Kong
  • EMO - The Netherlands
  • JPower - Japan
  • Directorate General of MIneral and Coal - Indonesia
  • Kalimantan Lumbung Energi - Indonesia
  • Shree Cement - India
  • Leighton Contractors Pty Ltd - Australia
  • Africa Commodities Group - South Africa
  • Minerals Council of Australia
  • Thai Mozambique Logistica
  • Barclays Capital - USA
  • Coal and Oil Company - UAE
  • Tamil Nadu electricity Board
  • Grasim Industreis Ltd - India
  • Siam City Cement - Thailand
  • Bank of America
  • GNFC Limited - India
  • SGS (Thailand) Limited
  • Shenhua Group - China
  • Tanito Harum - Indonesia
  • IMC Shipping - Singapore
  • Parry Sugars Refinery, India
  • TNB Fuel Sdn Bhd - Malaysia
  • Arch Coal - USA
  • Ernst & Young Pvt. Ltd.
  • Baramulti Group, Indonesia
  • KPCL - India
  • Toyota Tsusho Corporation, Japan
  • Pendopo Energi Batubara - Indonesia
  • Electricity Generating Authority of Thailand
  • Billiton Holdings Pty Ltd - Australia
  • SRK Consulting
  • Altura Mining Limited, Indonesia
  • Glencore India Pvt. Ltd
  • OPG Power Generation Pvt Ltd - India
  • U S Energy Resources
  • Binh Thuan Hamico - Vietnam
  • Barasentosa Lestari - Indonesia
  • Surastha Cement
  • Indogreen Group - Indonesia
  • IHS Mccloskey Coal Group - USA
  • Wilmar Investment Holdings
  • Kobexindo Tractors - Indoneisa
  • Essar Steel Hazira Ltd - India
  • SASOL - South Africa
  • Electricity Authority, New Zealand
  • Thailand Anthracite
  • Latin American Coal - Colombia
  • Mercator Lines Limited - India
  • Georgia Ports Authority, United States
  • Indika Energy - Indonesia
  • Ministry of Mines - Canada
  • Indo Tambangraya Megah - Indonesia
  • Dalmia Cement Bharat India
  • Banpu Public Company Limited - Thailand
  • Bukit Baiduri Energy - Indonesia
  • RBS Sempra - UK
  • Enel Italy
  • Maersk Broker
  • PetroVietnam
  • Mitsubishi Corporation
  • J M Baxi & Co - India
  • Chettinad Cement Corporation Ltd - India
  • Eastern Coal Council - USA
  • Indian Energy Exchange, India
  • Bukit Makmur.PT - Indonesia
  • Petrosea - Indonesia
  • Kobe Steel Ltd - Japan
  • Agrawal Coal Company - India
  • White Energy Company Limited
  • GVK Power & Infra Limited - India
  • Semirara Mining Corp, Philippines
  • GMR Energy Limited - India
  • Gresik Semen - Indonesia
  • CIMB Investment Bank - Malaysia
  • Mjunction Services Limited - India
  • Chamber of Mines of South Africa
  • Vale Mozambique
  • Sindya Power Generating Company Private Ltd
  • TRAFIGURA, South Korea
  • Samtan Co., Ltd - South Korea
  • Bangladesh Power Developement Board
  • Bayan Resources Tbk. - Indonesia
  • World Bank
  • Aboitiz Power Corporation - Philippines
  • The University of Queensland
  • Gujarat Sidhee Cement - India
  • Attock Cement Pakistan Limited
  • The India Cements Ltd
  • Simpson Spence & Young - Indonesia
  • Australian Commodity Traders Exchange
  • Australian Coal Association
  • Bharathi Cement Corporation - India
  • Vedanta Resources Plc - India
  • Cemex - Philippines
  • PLN Batubara - Indonesia
  • JPMorgan - India
  • Sical Logistics Limited - India
  • IOL Indonesia
  • GHCL Limited - India
  • Rio Tinto Coal - Australia
  • LBH Netherlands Bv - Netherlands
  • Bangkok Bank PCL
  • Petron Corporation, Philippines
  • bp singapore
  • Dr Ramakrishna Prasad Power Pvt Ltd - India
  • Petrochimia International Co. Ltd.- Taiwan
  • Cargill India Pvt Ltd
  • Savvy Resources Ltd - HongKong
  • Adaro Indonesia
  • New Zealand Coal & Carbon
  • Vijayanagar Sugar Pvt Ltd - India
  • Holcim Trading Pte Ltd - Singapore
  • Kideco Jaya Agung - Indonesia
  • International Coal Ventures Pvt Ltd - India
  • GAC Shipping (India) Pvt Ltd
  • Globalindo Alam Lestari - Indonesia
  • Core Mineral Indonesia
  • Fearnleys - India
  • Karbindo Abesyapradhi - Indoneisa
  • Straits Asia Resources Limited - Singapore
  • Sojitz Corporation - Japan
  • Thriveni
  • UOB Asia (HK) Ltd
  • The Treasury - Australian Government
  • Humpuss - Indonesia
  • CoalTek, United States
  • Jaiprakash Power Ventures ltd
  • Miang Besar Coal Terminal - Indonesia
  • Argus Media - Singapore
  • Directorate Of Revenue Intelligence - India
  • ACC Limited - India
  • Aditya Birla Group - India
  • Credit Suisse - India
  • Bhushan Steel Limited - India
  • Formosa Plastics Group - Taiwan
  • Britmindo - Indonesia
  • Adani Power Ltd - India
  • SMG Consultants - Indonesia
  • Jorong Barutama Greston.PT - Indonesia
  • European Bulk Services B.V. - Netherlands
  • Merrill Lynch Bank
  • McConnell Dowell - Australia
  • Mercuria Energy - Indonesia
  • Bank of China, Malaysia
  • Ind-Barath Power Infra Limited - India
  • Carbofer General Trading SA - India
  • Dong Bac Coal Mineral Investment Coporation - Vietnam
  • Kapuas Tunggal Persada - Indonesia
  • Intertek Mineral Services - Indonesia
  • Wood Mackenzie - Singapore
  • Posco Energy - South Korea
  • PetroVietnam Power Coal Import and Supply Company
  • Ince & co LLP
  • World Coal - UK
  • London Commodity Brokers - England
  • TGV SRAAC LIMITED, India
  • Permata Bank - Indonesia
  • OCBC - Singapore
  • Medco Energi Mining Internasional
  • Sakthi Sugars Limited - India
  • Thomson Reuters GRC
  • GN Power Mariveles Coal Plant, Philippines
  • Cardiff University - UK
  • CCIC - Indonesia
  • WorleyParsons
  • Maruti Cements - India
  • Central Electricity Authority - India
  • Edison Trading Spa - Italy
  • NTPC Limited - India
  • San Jose City I Power Corp, Philippines
  • Siam City Cement PLC, Thailand
  • Timah Investasi Mineral - Indoneisa
  • Maheswari Brothers Coal Limited - India
  • ING Bank NV - Singapore
  • Central Java Power - Indonesia
  • Bhoruka Overseas - Indonesia
  • AsiaOL BioFuels Corp., Philippines
  • Jatenergy - Australia
  • Kaltim Prima Coal - Indonesia
  • Qatrana Cement - Jordan
  • KEPCO - South Korea
  • Semirara Mining and Power Corporation, Philippines
  • Meralco Power Generation, Philippines
  • Geoservices-GeoAssay Lab
  • Port Waratah Coal Services - Australia
  • Parliament of New Zealand
  • The State Trading Corporation of India Ltd
  • Anglo American - United Kingdom
  • PLN - Indonesia
  • BNP Paribas - Singapore
  • Coal India Limited
  • Metalloyd Limited - United Kingdom
  • BRS Brokers - Singapore
  • Bahari Cakrawala Sebuku - Indonesia
  • Gupta Coal India Ltd
  • Tata Power - India
  • ICICI Bank Limited - India
  • Maharashtra Electricity Regulatory Commission - India
  • Orica Mining Services - Indonesia
  • Interocean Group of Companies - India
  • Vizag Seaport Private Limited - India
  • Arutmin Indonesia
  • Platou - Singapore
  • Rashtriya Ispat Nigam Limited - India
  • Jindal Steel & Power Ltd - India
  • Standard Chartered Bank - UAE
  • ANZ Bank - Australia
  • PNOC Exploration Corporation - Philippines
  • Kartika Selabumi Mining - Indonesia
  • SN Aboitiz Power Inc, Philippines
  • Global Coal Blending Company Limited - Australia
  • Coalindo Energy - Indonesia
  • Energy Link Ltd, New Zealand
  • Sinarmas Energy and Mining - Indonesia
  • Borneo Indobara - Indonesia
  • McKinsey & Co - India
  • TeaM Sual Corporation - Philippines
  • SUEK AG - Indonesia
  • Bank of Tokyo Mitsubishi UFJ Ltd
  • Global Green Power PLC Corporation, Philippines
  • Indonesia Power. PT
  • PTC India Limited - India
  • Gujarat Electricity Regulatory Commission - India
  • Power Finance Corporation Ltd., India
  • Energy Development Corp, Philippines
  • Inspectorate - India
  • UBS Singapore
  • Coeclerici Indonesia
  • Planning Commission, India
  • Lafarge - France
  • Samsung - South Korea
  • Inco-Indonesia
  • Indian Oil Corporation Limited
  • Global Business Power Corporation, Philippines
  • Noble Europe Ltd - UK
  • Runge Indonesia
  • Kumho Petrochemical, South Korea
  • Peabody Energy - USA
  • ASAPP Information Group - India
  • Offshore Bulk Terminal Pte Ltd, Singapore
  • Deloitte Consulting - India
  • Indian School of Mines
  • Panama Canal Authority
  • Mitsui
  • Ceylon Electricity Board - Sri Lanka
  • Coal Orbis AG
  • APGENCO India
  • Heidelberg Cement - Germany
  • Filglen & Citicon Mining (HK) Ltd - Hong Kong
  • Merrill Lynch Commodities Europe
  • CESC Limited - India
  • Platts
  • Karaikal Port Pvt Ltd - India
  • IBC Asia (S) Pte Ltd
  • Sucofindo - Indonesia
  • Salva Resources Pvt Ltd - India
  • Cigading International Bulk Terminal - Indonesia
  • MEC Coal - Indonesia
  • Cebu Energy, Philippines
  • Infraline Energy - India
  • Indorama - Singapore
  • Coaltrans Conferences
  • Idemitsu - Japan
  • Romanian Commodities Exchange
  • Berau Coal - Indonesia
  • Iligan Light & Power Inc, Philippines
  • EIA - United States
  • India Bulls Power Limited - India
  • Ministry of Transport, Egypt
  • Reliance Power - India
  • Eastern Energy - Thailand
  • Malabar Cements Ltd - India
  • Ministry of Finance - Indonesia
  • Mintek Dendrill Indonesia
  • Sarangani Energy Corporation, Philippines
  • Maybank - Singapore
  • Thiess Contractors Indonesia
  • Neyveli Lignite Corporation Ltd, - India
  • Independent Power Producers Association of India
  • Krishnapatnam Port Company Ltd. - India
  • KPMG - USA
  • Uttam Galva Steels Limited - India
  • Singapore Mercantile Exchange
  • DBS Bank - Singapore
  • Alfred C Toepfer International GmbH - Germany
  • Larsen & Toubro Limited - India
  • Cosco
  • Thermax Limited - India
  • Russian Coal LLC
  • Pipit Mutiara Jaya. PT, Indonesia
  • Ambuja Cements Ltd - India
  • globalCOAL - UK
  • Trasteel International SA, Italy
  • Price Waterhouse Coopers - Russia
  • Coastal Gujarat Power Limited - India
  • Madhucon Powers Ltd - India
  • Cement Manufacturers Association - India
  • Goldman Sachs - Singapore
  • Kohat Cement Company Ltd. - Pakistan
  • Commonwealth Bank - Australia
  • VISA Power Limited - India
  • Asia Pacific Energy Resources Ventures Inc, Philippines
  • Malco - India
  • Riau Bara Harum - Indonesia
  • Xindia Steels Limited - India
  • Therma Luzon, Inc, Philippines
  • ETA - Dubai
  • Gujarat Mineral Development Corp Ltd - India
  • South Luzon Thermal Energy Corporation
  • Oldendorff Carriers - Singapore
  • Freeport Indonesia
  • Indonesian Coal Mining Association
  • Rudhra Energy - India
  • Clarksons - UK
  • Sree Jayajothi Cements Limited - India
  • IEA Clean Coal Centre - UK
  • Economic Council, Georgia
  • Videocon Industries ltd - India
  • Mechel - Russia
  • KOWEPO - South Korea
  • Tata Chemicals Ltd - India
  • Antam Resourcindo - Indonesia
  • CNBM International Corporation - China