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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, 13 September 11
CAPITAL COSTS OF INDIAN COAL MINING PROJECT - AN ANALYST VIEW
By Mr Dipesh Dipu, Director - Consulting (Mining), Deloitte Touche Tohmatsu India Private Limited
The coal mining sector that has been opened par ...
Tuesday, 13 September 11
INDONESIAS COAL SECTOR EYES 2012 BOOM - JG
The Jakarta Globe, Indonesian English language News paper reported that, Coal production is set to surge next year as coal miners bolster their busi ...
Tuesday, 13 September 11
DRY BULK RALLY MAINTAINS MOMENTUM AT START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum at the start of the week, as the industry’s benchmark, the Baltic Dry Index (BDI) was up by 2.07% ...
Monday, 12 September 11
INDONESIAN GOVERNMENT HAS ALLOCATED MORE COAL FOR 2012
COALspot.com - Indonesian government has increased the domestic market obligation allocation to 82.07 million tons of coal for 2012, which is 4 perc ...
Saturday, 10 September 11
THE FREIGHT MARKET LIKELY TO BE FIRM NEXT WEEK - CAPT. REDDY
COALspot.com - The freight market continued the upward trend during last week with BDI crossing 1,800 points and closing at 1,838 points up by 5.63 ...
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Showing 5086 to 5090 news of total 6871 |
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- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- The University of Queensland
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
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