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