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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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Thursday, 13 August 09
RIO PREPARES COAL IPO AFTER FAILING TO FIND BUYER
Bloomberg reported that, Rio Tinto Group, the world’s third- largest mining company, is preparing an initial public offering for its U.S. ...
Thursday, 13 August 09
NOBLE'S PROFIT DOUBLES ON GLOUCESTER COAL ACQUISITION
Bloomberg reported that, Noble Group Ltd., a Hong Kong-based supplier of raw materials from soybeans to coal, said second- quarter profit more than ...
Thursday, 13 August 09
CHINA COAL-PRICES UNCHANGED, BUT LIKELY TO MOVE HIGHER
Alibaba reported that, Spot coal prices in China's top coal port Qinhuangdao were unchanged from a week earlier, but are still looking bullish in t ...
Thursday, 13 August 09
INDONESIA'S BERAU COAL SEES 2010 OUTPUT UP 16 PCT
Reuters reported that, Indonesia's fifth-largest coal miner, PT Berau Coal, expects 2010 production to be nearly 16 percent higher than this year, ...
Thursday, 13 August 09
JAYPEE GROUP. L&T INK RS 4,000-CRORE (US$ 824,818,084) DEAL
Second order bagged by L&T in the supercritical segment.
Jaiprakash Power Ventures Ltd (JPVL), promoted by the $7-billion Jaypee group, has s ...
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- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- White Energy Company Limited
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Planning Commission, India
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
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