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