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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, 06 September 11
SEMEN GRESIK TO ACQUIRE COAL MINE FOR RP. 1 TRILLION
COALspot.com - PT Semen Gresik Tbk (SMGR) is planning to acquire a low calorific value coal concession (IUP). According to Semen Gresik, the coal mi ...
Tuesday, 06 September 11
DRY BULK MARKETS RALLY POWERS THROUGH TO NEW WEEK, BUT A CORRECTION COULD BE OVERDUE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s freights rates kept leaping forwards during the beginning of the week, with the industry’s benchmark, the Baltic D ...
Monday, 05 September 11
TNPL POSTPONES BID OPENING UNTIL 12 SEPTEMBER 2011
COALspot.com - TNPL has postponed submission of the offer until 12 September 2011 on request from the supplier, an Indian trader said.
Due to Ram ...
Monday, 05 September 11
INDONESIAN COAL BENCHMARK PRICE - ANALYSIS
Analyst : Sunil K Kumbhat
COALspot.com - As a part of the Government’s efforts to stop transfer pricing abuses which have resulted in the los ...
Saturday, 03 September 11
FEW SHIPS REPORTED FIXED FROM INDONESIA TO INDIA - VISTAAR
COALspot.com - The freight market continued the upward trend during last week with BDI up by about 13 pct closing at 1,740 points and cape index up ...
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Showing 5101 to 5105 news of total 6871 |
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- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- PTC India Limited - India
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
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