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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, 30 July 09
PNOC FORGES JOINT VENTURES AS STEPS UP COAL OPERATIONS
The Philippine National Oil Co.-Exploration Corp. has entered joint venture agreements with food and beverage conglomerate San Miguel and Filipinas ...
Thursday, 30 July 09
NAMANE OF SOUTH AFRICA IN SUDAN COAL DEAL, BUSINESS REPORT SAYS
Namane of South Africa in Sudan Coal Deal, Business Report Says
Namane Resources Ltd. of South Africa signed a coal-supply agreement with the Nat ...
Wednesday, 29 July 09
RP COAL DEMAND TO SURGE BY 2014 - PHILIPPINES UPDATE
CEBU, Philippines - With the entry of new coal-fired power generation plants in the Philippines, the Department of Energy (DOE) projected an increas ...
Wednesday, 29 July 09
INDIA HUNGRY FOR OUR COKING COAL ASSETS
The Australian reported that, INDIA is about to embark on a program of rapid coal sector acquisitions in Australia as it looks to plug a huge annual ...
Tuesday, 28 July 09
SHENZHEN ENERGY INKS COAL PURCHASE CONTRACT WITH CHINA SHENHUA
China Knowledge reported that, Shenzhen Energy Group Co Ltd has signed a five-year contract with China Shenhua Energy Co Ltd, which is engaged in th ...
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- OPG Power Generation Pvt Ltd - India
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- Jaiprakash Power Ventures ltd
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- Singapore Mercantile Exchange
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- Metalloyd Limited - United Kingdom
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- Energy Development Corp, Philippines
- Trasteel International SA, Italy
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- Minerals Council of Australia
- PTC India Limited - India
- Independent Power Producers Association of India
- Interocean Group of Companies - India
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- Orica Australia Pty. Ltd.
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- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
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- IEA Clean Coal Centre - UK
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- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- The University of Queensland
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
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- Merrill Lynch Commodities Europe
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- The Treasury - Australian Government
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Eastern Energy - Thailand
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- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
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- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
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- Romanian Commodities Exchange
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- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Bukit Makmur.PT - Indonesia
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- Dalmia Cement Bharat India
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- Thai Mozambique Logistica
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- Medco Energi Mining Internasional
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- Ambuja Cements Ltd - India
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- Indian Energy Exchange, India
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