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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, 03 September 11
TNPL TO BUY 240K MT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL), is seeking to procure 240,000 MT +/- 5 percent of non-coking imported coal with ...
Friday, 02 September 11
CAPESIZE DEMAND LIFTS DRY BULK MARKET ONCE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what proves to be the best week of the year for Capesize owners, strong demand has helped propel the dry bulk market to new highs yesterday. The ...
Thursday, 01 September 11
EWP TO BUY 195KT OF VIETNAM COAL
COALspot.com - Korea Midland Power (KOMIPO) has issued an International open bidding for 490kt of sub bituminous coal, according to a bid invitation ...
Thursday, 01 September 11
DRY BULK MARKET TAKES GREAT LEAP FORWARD - NIKOS ROUSSANOGLOU
In what turned out to be a rather hopeful ending of the month, the last day of August saw the dry bulk market’s benchmark, the BDI (Baltic Dry ...
Tuesday, 30 August 11
FAUJI CEMENT CONSUMED MORE THAN 1 MILLION TONS OF LOCAL COAL
Cooper Minerals Inc.based in Vancouver, BC, Canada, is a junior exploration company engaged in the acquisition, exploration and development of miner ...
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- Xindia Steels Limited - India
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- PTC India Limited - India
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Australian Coal Association
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- The University of Queensland
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
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