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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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Tuesday, 27 September 11
A STRONG REBOUND FOR THE CAPE MARKET - BRS
A strong rebound for the Cape market, as cargoes continued to flow into the market and tonnage remained tight in the Atlantic, according to Barry Ro ...
Tuesday, 27 September 11
INTRACO SEALS US$25.3 MIO ORDER - INSIDER STORIES
Insider Stories reported that, Heavy equipment distributor PT Intraco Penta Tbk (INTA) obtained a US$25.3 million order on hand of heavy equipments ...
Sunday, 25 September 11
THE CHARTER RATES FOR INDONESIA TO INDIA WAS FIRM - VISTAAR
COALspot.com - The freight market moved up sharply with the cape Index up by 11 pct pushing the BDI by almost 6 pct and closing at 1,920 point ...
Saturday, 24 September 11
GOVT PLANS TO RENEGOTIATE ALL CONTRACTS INCLUDING FREEPORT - JP
The Jakarta Post reported that, the Energy and Mineral Resources Ministry has confirmed plans to renegotiate all mining contracts including those wi ...
Friday, 23 September 11
ICMA TO BUILD UPGRADE FACILITIES TO ANTICIPATE BAN ON LOW-GRADE COAL EXPORT BY 2014
COALspot.com - January to August of this year, Indonesia’s coal production had already reached 235 million tons. Earlier estimates had targete ...
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Showing 5061 to 5065 news of total 6871 |
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- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
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