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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, 23 September 11
UT TO PRODUCE 7 MMT OF COAL BY 2012
PT United Tractors Tbk is targeting a 7 million tons of coal production next year, a 55.55% increase from 4.5 millions targeted this year, said Pres ...
Friday, 23 September 11
RECORD RECYCLING ACTIVITY STIRS OPTIMISM IN DRY BULK SAYS BIMCOS ANALYSIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As expected at the start of the year, dry bulk ship owners were expected to flock scrapyards around the world, in order to take advantage of attract ...
Friday, 23 September 11
PANAMAX EXPERIENCED A SOFTENING IN RATES - FEARNLEYS AS
Handy
Still a good boost of fresh cargoes entering the market. Vessels in Black Sea with GOA clearance and Baltic positions are fetching tick abov ...
Wednesday, 21 September 11
INDIA'S COAL IMPORTS FROM INDONESIA FALL, CHINA BUYS MORE
COALspot.com - Indian coal imports from Indonesia fall to below 6 million tons in August, and this fall was continuing last few months. Ho ...
Wednesday, 21 September 11
2ND ANNUAL SHALE GAS SUMMIT
2nd Annual Shale Gas Summit 31 October – 3 November 2011 JW Marriott Hotel, Hong Kong
According to a recent EI ...
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- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
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- Global Green Power PLC Corporation, Philippines
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- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- The University of Queensland
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
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