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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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Friday, 30 September 11
INDIAN IRON ORE MARKET GETTING ACTIVE - FEARNLEYS AS
Handy
The Atlantic market continued its strong trend with fresh cargoes entering the market. Vessels open US Gulf fixed tick above US$ 27k back to t ...
Friday, 30 September 11
KRISHNAPATNAM PORT WINS GLOBAL PORT & COAL PORT OF THE YEAR AWARDS
COALspot.com - Krishnapatnam Port, a dynamic new generation world class port located in the East Coast of India has been adjudged the winner in the ...
Thursday, 29 September 11
INDONESIA'S MINERS FACE AN UNCERTAIN FUTURE - RUPERT WALKER
An evolving regulatory framework for the country's minerals industry could threaten its profitability and stifle investment.
The five-year surge ...
Thursday, 29 September 11
DRY BULK MARKET FALLS MID-WEEK, FURTHER DROP EXPECTED NEXT WEEK ON CHINA HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market, as reflected by the Baltic Dry Index (BDI) retreated by 0.36% yesterday reaching 1,920 points, with the Capesize segment suffer ...
Wednesday, 28 September 11
ATLAS RESOURCES TO SELL 25% STAKE IN IPO - INSIDER STORIES
Insider Stories reported that, coal producer PT Atlas Resources Tbk, that is controlled by Indonesian businessman Andre Abdi, plans to sell 783.33 m ...
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- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- PTC India Limited - India
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- White Energy Company Limited
- VISA Power Limited - India
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
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