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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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Wednesday, 13 May 09
INDONESIA ADARO NET PROFIT, REVENUE TO RISE IN 2009 - REUTERS
INDONESIA's largest coal producer by market value, PT Adaro Energy Tbk, expects double-digit growth in revenue and net profit this year, an officia ...
Wednesday, 13 May 09
ALPHA TO BUY RIVAL, CREATING NEW US COAL HEAVYWEIGHT - MININGWEEKLY.COM
Alpha Natural Resources, the biggest supplier of metallurgical coal in the US, has agreed to buy Maryland-based rival Foundation Coal for about $1,4 ...
Tuesday, 12 May 09
CHINA MINERS CUT COAL PRICE OFFER TO JAPAN UTILITIES - ALIBABA.COM
* Producers cut offer to $75.50 a tonne from over $80
* Negotiations may conclude soon as price gap narrows
* New offer at discount of about 43 pe ...
Tuesday, 12 May 09
INDO TAMBANGRAYA SEES 2010 COAL OUTPUT UP 25 PCT - REUTERS
Indonesian coal miner, PT Indo Tambangraya Megah (ITMG.JK), expects coal output to increase by up to 25 percent next year as production kicks in at ...
Tuesday, 12 May 09
INDIKA EXPECTS TO INCREASE COAL PRODUCTION BY 12.68% IN 2010 - THE JAKARTA POST
Energy and infrastructure company PT Indika Energy, the parent company of Indonesia's third largest coal producer PT Kideco Jaya Agung, expects its ...
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- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
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