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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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Monday, 24 August 09
10,000 MW TO BE GENERATED THROUGH THAR COAL RESERVES BY 2020
Four projects of 2450 MW approved; govt to invest Rs80bn in five years on infrastructure
The News Pakistan reported that, The Thar Coal a ...
Monday, 24 August 09
10 LAKH (1 MILLION) TONNE COAL BURNT IN KPT
Times of India reported that, In an unusual phenomenon, 10 lakh tonne coal cache stored at a plot in Kandla Port Trust was reduced to ashes after it ...
Monday, 24 August 09
LANCO IN TALKS FOR INDONESIAN COAL MINE
Economic Times of India reported that, Infrastructure company Lanco Infratech is in advanced talks with Indonesian engineering, procurement and cons ...
Saturday, 22 August 09
'THE BDI IS LIKELY TO BE HOLDING AROUND 2,500 POINTS' - SHIPPING UPDATE
COALspot.com (Singapore): The dry bulk market continued to be soft and the BDI dropped by 10 percent this week and closed at 24,68 points this week. ...
Saturday, 22 August 09
INDIAN COAL BUYERS RE-EMERGE WITH FRESH TENDERS
Reuters world's largest international multimedia news agency reported that,Indian coal end-users have re-emerged after a few weeks with several fre ...
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- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
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