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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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Sunday, 26 April 09
INDONESIAN GOVT SAYS COAL MINES CAUSE WEEKLONG FLOOD - THE JAKARTA POST
Samarinda administration in East Kalimantan admitted openly Thursday that the weeklong flood that paralyzed the city was caused by unruly management ...
Saturday, 25 April 09
FOREIGN SHARE DIVESTMENT STARTING THE 6TH YEAR OF PRODUCTION - MAJALAH TAMBANG
The government would set a divestment scheme for foreign miners, which would require companies to divest their ownership starting the 6th year of pr ...
Saturday, 25 April 09
INDO TAMBANGRAYA MEGAH ALLOCATED USD 126 MILLION FOR CAPITAL SPENDING - MAJALAH TAMBANG
Somyot Ruchirawat, President Director of PT Indo Tambangraya Megah, Tbk (ITMG), has announced the company's total dividend payment of Rp 1,345 per ...
Saturday, 25 April 09
MINING SECTOR IS STILL ON THE SURPLUS - THE JAKARTA POST
The global financial crisis is apparently also having an impact on the mining sector. People are thinking twice about investing in the mining sector ...
Saturday, 25 April 09
ADARO RUNS CATARACT OPERATION PROGRAM - THE JAKARTA POST
As part of its CSR program, thermal coal producer PT Adaro Indonesia has made cataract operations available to residents of Tandjung district, South ...
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- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- The University of Queensland
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
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