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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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Tuesday, 28 July 09
BUKIT ASAM ENJOYS STRONG FIRST HALF
The Jakarta Post reported that, state coal miner PT Tambang Batubara Bukit Asam (PTBA) enjoyed a strong first half performance with six-month net pr ...
Tuesday, 28 July 09
NEWCASTLE LOADED 1.943 MILLION TONS OF COAL IN THE WEEK ENDED 27TH JULY 2009
COALspot.com (Singapore) : The volume exported from Australia’s Newcastle port in the week ended - 07:00 hours 27 July 2009 ...
Monday, 27 July 09
INDIA PAYING HIGHEST PRICE FOR S.AFRICA COAL - PRODUCERS
* Spread between South African and Pacific origin coal very wide
* Lack of European buying makes India indicator of value
Reuters reported that, ...
Monday, 27 July 09
TAIWAN'S FORMOSA EYES S.AFRICAN COAL FOR Q4: TRADE
Reuters reported that, Taiwan's Formosa Plastics Group is looking to buy two South African thermal coal cargoes for delivery in the fourth-quarter, ...
Monday, 27 July 09
ADANI POWER'S $625 MILLION IPO TO GENERATE HOT DEMAND
WSJ reported that, Adani Power, the electricity generating unit of India's Adani Enterprises Ltd., is set raise up to US$625 million in wha ...
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- Anglo American - United Kingdom
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- Chamber of Mines of South Africa
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Metalloyd Limited - United Kingdom
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- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
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- The State Trading Corporation of India Ltd
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- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
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- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
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- Mintek Dendrill Indonesia
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- White Energy Company Limited
- Eastern Energy - Thailand
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- The University of Queensland
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- PowerSource Philippines DevCo
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- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
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- Minerals Council of Australia
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- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
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- Binh Thuan Hamico - Vietnam
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- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
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- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
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- Price Waterhouse Coopers - Russia
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- Electricity Authority, New Zealand
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- Gujarat Electricity Regulatory Commission - India
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- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- London Commodity Brokers - England
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- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
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- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
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- Romanian Commodities Exchange
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- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
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- Riau Bara Harum - Indonesia
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- Dalmia Cement Bharat India
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- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
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- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
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- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
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- PTC India Limited - India
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- Indonesian Coal Mining Association
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- MS Steel International - UAE
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- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
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