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Tuesday, 07 July 09
RUSSIAN AUDITORS ATTACK COAL EXPORTERS OVER PRICING
Russia's budget is losing substantial revenues because the country's exporters ship coal overseas at artificially low prices through various offshore schemes, Russia's top auditing body said.
A report published on the Audit Chamber website said up to 80 percent of Russian coal exports were going through offshore firms at prices often 30 percent to 54 percent below market rates.
"As a result substantial funds raised from coal sales are accumulated on offshore firms' accounts while Russia's budget is losing a substantial part of tax revenues," the auditing chamber said in a statement.
The investigation follows criticism by Russian Prime Minister Vladimir Putin of the export policies of major Russian coal firms last year.
Putin attacked coking coal producer Mechel for its pricing policies, causing a sharp sell-off of the New York-listed stock.
Russia produced 326 million tonnes of coal last year and exported just over 100 million tonnes with Mechel, SUEK, KuzbassRazrezUgol and Raspadskaya (RASP.MM) being among top producers and exporters.
Source: Reuters
(http://www.reuters.com/article/marketsNews/idUSL757937520090707)
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Tuesday, 30 June 09
ARCELORMITTAL, RIO, 8 OTHERS VIE FOR COAL INDIA MINES
Coal India Ltd. short-listed ArcelorMittal, Rio Tinto Group and eight other companies to develop its abandoned mines to help ease a shortage of coal ...
Monday, 29 June 09
INDONESIA PLANS 20 PCT FOREIGN MINING SALE LAW
Indonesia plans to require foreign investors in mining firms to gradually divest shares starting from the fifth year of commercial production, but m ...
Monday, 29 June 09
CHINA ENJOYS STABLE COAL ECONOMY IN THE FIRST FIVE MONTHS OF 2009
In the first five months of the year, China's raw coal production had continued to rise, and coal market stayed in a balance in terms of supply-dem ...
Monday, 29 June 09
GOVERNMENT FINE TUNES MINING LAW
The government is planning to require all foreign-owned mining companies to divest 20 percent of their businesses to local entities after five years ...
Sunday, 28 June 09
INDIA CEMENTS TO INVEST RS 1,500 CR OVER 2 YEARS
Chennai-based India Cements is planning to invest around Rs 1,500 crore over the next two years for setting up a greenfield project in Rajasthan, po ...
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- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Australian Coal Association
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Parliament of New Zealand
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Planning Commission, India
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
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