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Tuesday, 18 August 09
INDIA PLANS 'SIMPLER' MINING LAW TO BOOST INVESTMENT
 Bloomberg reported that, India aims to cut permit delays and attract overseas capital through “simpler” resource investment laws to help double mining’s contribution to the nation’s $1.2 trillion economy to at least 4 percent.
“We hope to increase it to 5 percent but expect it to increase to at least 4 percent in five years,” Mines Minister B.K. Handique said in an interview in New Delhi yesterday. The legislation will be presented to parliament in the winter session this year, he said.
Delays in securing mining licenses have undermined India’s efforts to win more investment, holding up construction of $32 billion projects announced ArcelorMittal and Posco, the world’s largest and sixth-largest steelmakers. The new law will develop the changes to the mineral policy last year that have so far failed to unlock development.
“It will be great if the government is able to cut down the long-winded procedure,” Niraj Shah, an analyst at Centrum Capital Ltd., said today. It will help companies who are serious about building operations in India, he said.
India, which holds the world’s fourth-largest bauxite deposits and the fifth-largest iron ore reserves according to McKinsey & Co., currently regulates mining through the five- decade old Mines & Minerals (Development & Regulation) Act.
“We will introduce a legal framework that ensures sustainable development and includes environment concerns,” Handique said. “We have to ensure it’s more broad-based as if there is resistance from people it will not be possible to translate the act into reality.”
Posco, ArcelorMittal
Land disputes and delays in allocating mining licenses have stopped South Korea-based Posco from proceeding with potentially the biggest overseas investment in India. The company is yet to begin building a $12 billion, 12 million metric ton steel plant in eastern Orissa state, planned for more than five years.
“The policy is aimed to make the rules more transparent and simpler,” Handique said. “Posco is a bad precedent but we know that overseas companies want to invest in India and transparent policy will help that,” he said, adding that he also expects the law changes to spark investment from domestic companies.
“We hope the government approves the mine license soon, then we would like to secure land and start the project as soon as possible,” Choi Doo Jin, a spokesman at Posco, said by phone from Seoul today.
ArcelorMittal has proposed setting up two mills in India, one in Orissa and another in Jharkhand -- with a total capacity of 24 million tons. It signed an accord for the Jharkhand mill in mid- 2005, followed by the one in Orissa.
Besides companies, countries including South Africa, Namibia and Colombia have shown interest in investing in the mining sector, Handique said.
Source: Bloomberg
To contact the reporter on this story: Debarati Roy in Mumbai at droy5@bloomberg.net
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Wednesday, 26 August 09
JSW ENERGY NEARS COAL-SUPPLY LINKAGE DEAL IN INDONESIA
Sajjan Jindal-owned JSW Energy is close to finalising a coal-supply linkage pact in Indonesia and is also exploring options of acquiring ...
Wednesday, 26 August 09
COAL INDIA MAY HIKE COAL PRICES BY UP TO RS 175 (ABOUT US$ 3.60) A TONNE
The Economic Times reported that, state-owned Coal India may hike coal prices by up to Rs 175 (~ US$ 3.60) a tonne to close the gap between domestic ...
Tuesday, 25 August 09
KOREA TO INTRODUCE COAL-MINING ROBOTS TO REDUCE THE RISK OF HUMAN LOSSES FROM CONVENTIONAL MINING
Far East Gizmos reported that, The state-run Korea Coal Corp. (KOCOAL) signed a memorandum of understanding (MOU) on Monday with three Korean engine ...
Tuesday, 25 August 09
INDIA'S GNFC EXTENDED ONLINE BIDDING FOR PURCHASE OF 260,000 T COAL TO 23RD SEPTEMBER 2009
COALspot.com (India): Gujarat Narmada Valley Fertilizers Co. Ltd. (GNFC) invites offers (e-Tender) for supply of 130,000 MT +/- 5% on firm basis and ...
Tuesday, 25 August 09
ANTAM CONSIDERS ACQUIRING BHP
The Jakarta Post reported that, State mining company PT Aneka Tambang (Antam) is contemplating acquiring BHP Billiton's coal concessions in Central ...
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- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Cement Manufacturers Association - India
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