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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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Saturday, 17 September 11
GVK ACQUIRES HANCOCK COAL AND INFRASTRUCTURE FOR US$ 1.26 BILLION
COALspot.com - GVK group, India’s leading infrastructure developer,confirmed arrangements for the acquisition of a strategic part of large, hi ...
Saturday, 17 September 11
INDIA'S GVK ACQUIRES HANCOCK COAL AND INFRASTRUCTURE PROJECTS IN AUSTRALIA
COALspot.com - GVK group, India’s leading infrastructure developer, today confirmed arrangements for the acquisition of a strategic part of la ...
Friday, 16 September 11
DELTA DUNIA MAKMUR REMOVED 30.9 MILLION BCM OVERBURDEN IN AUGUST 2011
COALspot.com - PT. Delta Dunia Makmur Tbk has removed 30.9 million bcm (+13.2% YoY) overburden in August 2011 while coal production was at 2.9 ...
Thursday, 15 September 11
RUSSIAN COAL EXPORTS UP 10.9% IN JAN-AUG TO 71.50 MILLION TONS - PORT NEWS / HELLENIC SHIPPING
Port News reported that, Coal exports from Russia in January-August 2011 grew by 10.9% compared with the same period last year, to 71.50 million ton ...
Thursday, 15 September 11
INDIAN GOVT PLANS TO DEVELOP 9 NEW MAJOR PORTS BY 2016 - INVEST MONEY / HELLENIC SHIPPING
The government has announced to make a investment of more than Rs 22,000 crore (approximately US$ 4,623,791,331) to develop nine new major ...
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- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- White Energy Company Limited
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