We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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
If you believe an article violates your rights or the rights of others, please contact us.
|
|
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.
...
|
|
|
Showing 71 to 75 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- GMR Energy Limited - India
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
|
| |
| |
|