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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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Monday, 08 June 09
PRIVATE COAL MINERS LIKELY TO LAND COMMERCIAL LICENSE - ECONOMIC TIMES
Economic Times of India reported that, The government may allow commercial coal mining by private companies as it looks to plug the demand-supply ga ...
Monday, 08 June 09
SAN MIGUEL EYES LOCAL MINING VENTURES - PHILIPPINE DAILY INQUIRER
Philippine Daily Inquirer reported that, Diversifying conglomerate San Miguel Corp.is making big plans for Philippine mining, seen as an industry th ...
Monday, 08 June 09
NAPOCOR BUYING COAL FOR PAGBILAO PLANT - PHILIPPINE DAILY INQUIRER
Philippine Daily Inquirer reported that, State-run National Power Corp. plans to buy 390,000 metric tons of steaming coal next month, to supply the ...
Sunday, 07 June 09
SEMIRARA SELLING COAL TO THAILAND - STEELGURU
Business Mirror reported that coal producer Semirara Mining Corporation has successfully entered the Thailand market during the Q1 of the year, help ...
Saturday, 06 June 09
IS THE RECESSION OVER ? - CAPT. REDDY, VISTAAR SHIPPING
COALspot.com (Singapore): Is the recession over, that is what most analysts think and seems so from the Baltic Index rally and firm commodity ...
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- Larsen & Toubro Limited - India
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- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
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- The University of Queensland
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- Orica Australia Pty. Ltd.
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- Minerals Council of Australia
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- Tamil Nadu electricity Board
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- London Commodity Brokers - England
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- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
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- South Luzon Thermal Energy Corporation
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- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
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- Jorong Barutama Greston.PT - Indonesia
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- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Parliament of New Zealand
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- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
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- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
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- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
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- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
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- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
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- Singapore Mercantile Exchange
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
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- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
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- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
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- Planning Commission, India
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- Savvy Resources Ltd - HongKong
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- Energy Development Corp, Philippines
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- Indian Oil Corporation Limited
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- Latin American Coal - Colombia
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