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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, 19 August 09
STEAM COAL PRICES ARE SINKING - THE GERMAN COAL IMPORTERS ASSOCIATION
COALspot.com (German): Oversupply in the World Market. In 2Q 2009 the steam coal prices sank massive in comparison to the previous years quart ...
Wednesday, 19 August 09
MMTC SCRAPS CONTROVERSIAL COAL TENDER
Most of NTPC’s coal-based projects don’t have sufficient stock of coal
State-owned trading firm MMTC Ltd has scrapped its controversi ...
Wednesday, 19 August 09
THE 3RD ASIA PACIFIC COAL TRADING & INVESTMENT OUTLOOK 2009 WILL BE HELD IN CHINA IN SEPTEMBER 2009
COALspot.com (China): Due to the inversion of domestic and overseas coal price in China, China coal import increased dramatically and continuously. ...
Wednesday, 19 August 09
COAL INDIA PLANS SUBSIDIARY IN MOZAMBIQUE
Business Standard reported that, Coal India Ltd (CIL), which was awarded two exploratory coal blocks in Mozambique in March this year, has decided t ...
Tuesday, 18 August 09
BANPU TO FOCUS ON CORE BUSINESS
Banpu, the country's leading energy firm, expects to conclude its four-year strategic plan next month, resulting in a strengthening of its core bus ...
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- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
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