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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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Thursday, 08 September 11
PETROSEA ADDS US$730 MIO CONTRACT
Coal mining contractor PT Petrosea Tbk (PTRO), a majority owned subsidiary of energy integrated company PT Indika Energy Tbk (INDY), has secured a U ...
Wednesday, 07 September 11
ANOTHER EXCEPTIONALLY STRONG WEEK FOR THE CAPESIZE MARKET - BRS
The very strong rise in Cape rates pushed through an overall improvement in the BDI this week, although relatively little benefit from the Capes has ...
Wednesday, 07 September 11
INDIA HIT BY INDONESIAS COAL PRICE - TEMPO INTERACTIVE
TEMPO Interactive, an Indonesian online news portal reported that, The Indian government has complained about the price increase of Indonesian coal, ...
Wednesday, 07 September 11
SAMPUR POWER AGREEMENT SIGNED - DAILY NEWS
Daily News, Sri Lank's national news paper reported that, the agreement for the setting up of a 500 MW coal-fired power plant at Sampur, Trincomale ...
Tuesday, 06 September 11
INDONESIAS PROPOSED COAL EXPORT BAN MAY HAVE IMPACT ON THE INDIAN POWER SECTOR - DIPESH DIPU
COALspot.com - This is a special interview about Indonesian proposed coal export ban by 2014, with Mr. Dipesh Dipu, Director of Deloitte Touche Tohm ...
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- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
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