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