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Wednesday, 12 September 12
INDIAS COALGATE: TIME FOR A ROOT CANAL
 A recent report from India’s Comptroller and Auditor General (CAG) pertaining to the allocation of coal blocks has created a political storm in India. The report alleges widespread corruption in coal block allocation and is perceived as potentially damaging for the already scam-tainted Manmohan Singh-led United Progressive Alliance (UPA) government.
According to the CAG, the underpriced sale and free allocation of coal blocks for captive mining may have cost the government as much as US$33 bill in lost revenue. At the heart of the debate is the 1993 policy which broke the government’s monopoly as a coal supplier and allowed private companies to mine coal for captive use, in a bid to increase coal production to meet burgeoning demand.
However, the decision resulted in a number of non-coal consuming industries approaching state governments and signing letters of intent promising to develop coal consuming plants if they were allocated coal mines. Coal blocks were allocated to private companies as well as state mining companies who were ill-equipped to run a power plant as well as a coal mine. Prime Minister Singh was in charge of the Ministry of Coal (MoC) from 2006 to 2009 when some of the controversial allocations took place.
A number of companies developed coal blocks, but the vast majority have been content to sit on the asset and wait until the government opened up the coal market to allow private captive coal miners to sell coal into the domestic market place. Of the 218 coal blocks that have been awarded to date, only 29 are currently in production. Many of these companies blame delays in environmental clearances and land acquisition issues for their inability to commence operations.
'Coalgate' Implications
Recently, the Ministry of Coal has started de-allocating coal blocks from miners who have not sufficiently developed their assets. As per the latest available data, 24 coal blocks have been de-allocated, including those from private companies including Binani Cement, Bhatia International Ltd and Lloyds Metal & Engineers Ltd. The threat of further de-allocation of mines by the MoC, as political fallout from the ongoing scandal, is expected to induce other mine owners to be more proactive with project development. There are significant financial implications for companies who have secured financing and have begun to develop plants dependent on captive coal blocks. Opposition from the business community is fervent as many coal-consuming plants are ready or partly ready, financing has been secured and industrial equipment has been ordered. If coal blocks are de-allocated, billions of dollars loaned to finance these projects would come under threat.
It is imperative for India to secure energy for its growing economy. It is facing severe shortages of domestic coal supply and ‘Coalgate’ will now join India’s ultra-mega power project (UMPP) policy as a shining example of failed energy policy. Salva does not believe that captive mining will grow to 653 Mt by 2020, as forecast by India’s Planning Commission.
Developments in captive coal production have the ability to widely swing India’s imported coal demand, particularly for thermal coal. The political and commercial implications of India’s ‘Coalgate’ scandal and captive mine development are worth keeping an eye on as India’s Central Bureau of Investigation initiates the due process of law against some of these companies. The repercussions will affect not just India, but possibly world coal markets.
Source:Salva
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Wednesday, 22 November 23
INDIA: GOVERNMENT PLANS 1.4 BILLION TONNE COAL OUTPUT BY 2027 - LIVEMINT
The Union coal ministry on Monday announced plans to increase India’s coal production to 1.404 billion tonne by 2027, with an eye to further ...
Wednesday, 22 November 23
OBLIGATION. INDONESIA AIMS TO START COLLECTING LEVIES FROM COAL MINERS IN JANUARY - REUTERS
Indonesia plans to start collecting levies from coal miners in January to be used to compensate miners who sell coal to the state utility at lower ...
Tuesday, 21 November 23
INDIAN COAL POWER PLANTS’ CAPACITY UTILISATION WILL IMPROVE TO 65% THIS FISCAL: - CRISIL
Coal-based thermal power units’ plant load factor (PLF) or capacity utilisation will improve to 65 percent in the current fiscal year despite ...
Tuesday, 14 November 23
CAPITAL PRODUCT PARTNERS L.P. ANNOUNCES TRANSFORMATIVE TRANSACTION INCLUDING THE ACQUISITION OF 11 NEWBUILD LNG CARRIERS FOR $3.1 BILLION
Capital Product Partners L.P. announced that it has entered into an umbrella agreement (the “Umbrella Agreement”) with Capital Maritime ...
Tuesday, 14 November 23
COAL INDIA BEATS Q2 PROFIT VIEW ON HIGH POWER DEMAND AMID WEAK MONSOON - REUTERS
Coal India on Friday reported better-than-expected second-quarter profit, helped by high power demand and boosted production amid a weak monsoon.
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- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- The University of Queensland
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Parliament of New Zealand
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
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