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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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Tuesday, 25 August 09
COAL OUTPUT TO RISE IN H2 BUT EXPORTS TO GO FLAT
The leading english news paper in Indonesia reported that, It is estimated coal production will rise by 5.7 percent in the second semester from a ye ...
Tuesday, 25 August 09
INDIAN FIRM TO INVEST $44 MN IN INDONESIA
Economic Times - India Times reported that, BEML Limited, India-based second largest heavy equipment producer in Asia, will invest $44 million in In ...
Tuesday, 25 August 09
BHARAT LOOKS TO BULLDOZE RIVALS WITH LOWER PRICES
The Jakarta Globe reported that, The country’s two established heavy equipment suppliers now have a competitor in the form of Indian firm Bhar ...
Tuesday, 25 August 09
PIKE RIVER DELAYS COAL EXPORTS FROM NEW ZEALAND MINE
South African mining Weekly reported that, The first 60,000-t export shipment from ASX-listed Pike River Coal’s new mine has been delayed unti ...
Monday, 24 August 09
INDONESIAN GOVT ASKED TO CONTROL COAL TRADERS, BROKERS
The Jakarta Post, the leading English news paper in Indoneisa reported that, Businesses are urging the government to bring all coal traders and brok ...
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- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- The University of Queensland
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
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