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Friday, 07 August 09
NEED TO HIKE DOMESTIC PRICES - COAL INDIA
 WSJ reported that, The chairman of Coal India Ltd., the country's biggest coal producer, Friday said there was a need to hike domestic coal prices to mitigate the impact of wage hikes, which hurt its profit for the last financial year to the extent of 83 billion rupees ($1.74 billion).
"We have reported a sharp drop in earnings and that is because of a pay revision for workers and officers," Partha Bhattacharyya told reporters on the sidelines of a coal conference.
"We need to improve. That can be done by a modest increase in coal prices."
Coal India, which accounts for more than 80% of India's total coal production, last raised prices in August 2007, by 10%.
Although coal prices in India were deregulated completely in January 2000, the price is fixed by state-run companies under the guidance of the coal ministry.
However, India's coal minister, Sriprakash Jaiswal, said the federal government wasn't considering a coal price hike.
"There is a need for higher coal prices due to wage hikes. But currently the government isn't considering a hike," he told reporters, adding the possibility of a price hike later can't be ruled out.
India's federal government plans to sell a 10% stake in Coal India. Mr. Bhattacharyya said Coal India's profit will be hit by 40 billion rupees in the current financial year due to the wage hike.
Coal India expects coal production to rise 7.7% in the current fiscal to 435 million metric tons. The company, which has been posting an average annual production growth of 5%, may have to increase production by 8.5%-9% to meet India's growing demand, Mr. Bhattacharyya said.
India's coal demand this year is estimated at 604.33 million tons, while domestic production is estimated at 534.33 million tons, leaving a gap of 70 million tons which needs to be met through imports.
India is facing a coal shortage as its power generation is increasing 7.5% annually while coal production is rising only 5%, Central Electricity Authority Chairman Rakesh Nath said in a separate conference Friday.
He expects thermal power coal imports to widen to 40 million tons by the fiscal ending March 31, 2012 from 28.7 million tons in the current year, due to the growing mismatch between local supply and demand.
"Coal shortages will continue due to the demand-supply gap," he said.
Source: WSJ
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Thursday, 06 August 09
CASES FILED AGAINST ESSAR ALGOMA OVER TERMINATED COAL SHIPMENTS
Steel Guru reported that, It is reported that units of International Coal Group Inc and Arch Coal Inc have filed federal lawsuits in the same court ...
Thursday, 06 August 09
COMPULSORY MINE RECLAMATION PROPOSED FOR A MINING'S LIFETIME
Tambang reported that, A data from the Forestry Ministry showed that almost 65 percent of mining activities operated under contract of work, c ...
Thursday, 06 August 09
MINING PERMITS FOR THOSE COMMITTED TO SMELTER DEVELOPMENT ONLY
Tambang reported tht, Concrete and tangible endeavors are key to guarantee the attainment of added value from mining sector. The Indonesian Ministry ...
Thursday, 06 August 09
PRESS RELEASE - CZECH COAL CONTESTS THE J&T AND IPO MERGER
Prague, 3 August 2009 - The Czech Coal Group filed today objections to the proposed merger of the J&T Group and International Power Opatovice (I ...
Wednesday, 05 August 09
SMALLER DRY BULK CARRIERS TO FARE BETTER UNTIL THE END OF 2009 - SHIPPING
Marcor Shipping reported that, Smaller ship types are expected to outtake larger ones in dry bulk trade for the period until the end of the year. Th ...
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- Vizag Seaport Private Limited - India
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- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
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- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
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- Thiess Contractors Indonesia
- White Energy Company Limited
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- PetroVietnam Power Coal Import and Supply Company
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- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
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- Global Green Power PLC Corporation, Philippines
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- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
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- PowerSource Philippines DevCo
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- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
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- Directorate Of Revenue Intelligence - India
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- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- The University of Queensland
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
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- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
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- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
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- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Planning Commission, India
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Orica Australia Pty. Ltd.
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- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
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- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
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- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
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- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- ASAPP Information Group - India
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
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