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