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Friday, 30 September 11
MINING BILL CLEARED, FIRMS TO SHARE 26% PROFITS WITH LOCALS - NDTV
 NDTV reported that, The Union Cabinet cleared the draft mining bill aimed at regulating mining activities Friday. The bill proposes a profit-sharing system and bidding of mining rights. It will mandate coal companies to provide 26 per cent of post-tax profit for the welfare of affected people, a move intended to benefit mostly tribals.
Niraj Shah, Senior VP (Equity Research) at Fortune Financial Services (India) Ltd said, "The biggest negative will be on Coal India... 26 per cent profits would be transferred and will be calculated on previous years' profit. So, the EPS would be impacted."
Coal India slumped 3 per cent post the decision and was the top loser on the 30-stock Sensex.
Bhavesh Chauhan of Angel Broking said the biggest impact will be on Coal India followed by Hindustan Zinc. "For Coal India, there is a cushion of passing prices to customers because it sells coal at a subsidy," Mr Chauhan added.
Companies that have captive coal mines will also be affected, Mr Shah said. "Profit will be calculated on the basis of mine head costs and the transfer pricing, so power and steel companies will be impacted," Mr Shah added.
The Mines & Minerals (Regulation and Development) Bill, 2011, which seeks to replace a 1957 act, also provides for setting up of National Mining Regulatory Authority and Tribunal and formation of District Mineral Foundations in 60 mineral-rich districts across the country. The states will also be advised to set up authorities and tribunals on these lines.
The Bill, which advocates "sustainable and scientific" mining, also suggests non-coal miners like bauxite and iron ore firms to share an amount equal to that of royalty with local residents instead of just sharing profits.
A 10-member ministerial panel set up in June last year, has finalised the methodology ensuring that people in mineral-rich districts of Andhra Pradesh, Orissa, Chhattisgarh, Goa, Jharkhand, Karnataka, Madhya Pradesh, Maharashtra, Rajasthan, Uttar Pradesh and West Bengal get monetary benefits from mining.
If the bill is passed, an estimated amount of Rs. 10,000 crore (approximately US$ 2.042 billion) will be generated per year from miners and an average amount of Rs. 180 to 200 crore (approximately US$ 36,754,535 to 40,838,239) will be distributed among District Mining Foundations of 60 mineral rich districts that include 25 districts affected by Left Wing Extremism.
Mr Shah said money will be transferred to an escrow account that would be used for the benefit of the tribals.
Source: NDTV
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Wednesday, 05 October 11
WITH CHINA ON HOLIDAY, DRY BULK MARKET REMAINS STAGNANT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has remained to healthy levels after last month’s rally, but with China going on holiday this week, things are looking sta ...
Tuesday, 04 October 11
INDONESIA RAISES COAL BENCHMARK (HBA) FOR FIRST TIME IN 4 MONTHS
COALspot.com - Indonesia raised the monthly reference price for sales in October by 2.56 percent, the first increase since June.
The Ministry of ...
Tuesday, 04 October 11
COAL MINING GROUP WANTS EXPORT TAX, NOT EXCISE - JG
One of the leading English news paper in Indonesia, The Jakarta Globe reported that, the government shall reimpose a duty on coal exports, classifyi ...
Sunday, 02 October 11
INDIAN COAL IMPORTS PICKED UP - CAPT. REDDY
COALspot.com - The BDI dropped by 1 pct and Cape index dropped by 6 pct closing at 1,899 points and 3,136 points respectively. However all other seg ...
Saturday, 01 October 11
2012 TO BE ANOTHER CHALLENGING YEAR - CEO, REMI MARITIME
Shipowners are facing another challenging year in 2012 said Mr. Leonidas Polemis CEO of Remi Maritime Corporation, urging caution towards operating ...
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- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Agrawal Coal Company - India
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
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