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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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Friday, 21 August 09
HUANENG YIMIN TO HIKE COAL OUTPUT
China Daily, the largest English portal in China reported that, China's first large coal-electricity joint project, Huaneng Yimin Coal Electricity ...
Thursday, 20 August 09
INDONESIA'S DELTA DUNIA BUYS COAL FIRM FOR $550 MLN
* Delta Dunia to acquire BUMA for $550 million
* Expect to complete the deal in the fourth quarter of 2009
* Delta Dunia has appointed Barclays Ca ...
Thursday, 20 August 09
MUNDRA PORT BAGS MORMUGAO PORT COAL TERMINAL DEVELOPMENT CONCESSIONS
NDTV reported that, Mundra Port and Special Economic Zone (Mundra Port) the largest private port in India has won the bid for the development of coa ...
Thursday, 20 August 09
INDONESIA'S BUKIT ASAM SET FOR MINE ACQUISITIONS
* Allocates $150 million for coal mine acquisitions
* Expects one deal to be completed by the end of 2009
Reuters world's largest international ...
Thursday, 20 August 09
INDONESIAN COAL EXPORT LESSENS IN FIRST SEMESTER
Domestic coal use has grown by five million tons.
Viva News reported that, Domestic coal export up until the first half of 2009 decreased by four ...
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- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- White Energy Company Limited
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- PTC India Limited - India
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
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