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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, 06 April 09
RICHARDS BAY COAL TERMINAL EXPORTS ROSE 5 PERCENT IN MARCH - BLOOMBERG
South Africa’s Richards Bay Coal Terminal, the world’s largest coal-export facility, shipped 5 percent more coal in March than the same ...
Monday, 06 April 09
INDIA'S OSWAL CHEM EYES INDONESIAN COAL MINES -ECONOMICTIMES
Oswal Chemicals and Fertilisers (OCFL), part of Abhay Oswal-led Oswal group, has initiated talks with three separate Indonesian coal firms to ...
Thursday, 02 April 09
FOREIGNERS ALSO CHEER FOR INDONESIA'S THE NEW MINING LAW - MAJALA TAMBANG
Three mining giants, Australia's Rio Tinto along with Canada's Barrick Gold and Southern Arc, are among foreign corporations currently applying fo ...
Wednesday, 01 April 09
INDONESIAN GOVERNMENT REVISES MINING REVENUE TARGET DOWN 26% - THE JAKARTA POST
Government income from mining this year, excluding taxes, is expected to drop by about 26 percent to Rp 11 trillion ($957 million), primarily becaus ...
Wednesday, 01 April 09
INDONESIAN OFFICIAL CLAIMS NEW LEGISLATION IS VINDICATED AS OVERSEAS FIRMS LINE UP FOR MINING LICENSES - THE JAKARTA GLOBE
The Energy and Mineral Resources Ministry is expected to issue six mining licenses under the country’s new mining law over the next two months ...
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- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
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