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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, 12 August 09
COAL INDIA TO IMPORT 4 MLN T 2009/10 - MEDIA
State-run Coal India Ltd plans to directly import 4 million tonnes of coal in the current fiscal year to March 2010, Chairman Partha Bhattacharyya s ...
Wednesday, 12 August 09
CHINA'S LARGEST COAL PRODUCER TO SET UP COAL RESERVES
China's National Development and Reform Commission has commissioned China Shenhua Energy Co., the nation's largest coal producer, to build 10 stor ...
Wednesday, 12 August 09
NALCO SMELTER CONSTRUCTION MAY FACE DELAY
The Jakarta Post reported that, India’s state-run National Aluminum Company (Nalco) may postpone the construction of an aluminum smelter in In ...
Wednesday, 12 August 09
COAL MINE PLAN SHOT DOWN OVER GREEN CONCERNS
The Times of India reported that, In a major setback to Adani Powers, the principal chief conservator of forests (PCCF) has rejected its proposal fo ...
Tuesday, 11 August 09
INDONESIA'S COAL EXPORTS TO INDIA WILL BE EXEMPTED FROM DUTIES STARTING JANUARY 1, 2013 - BERITA SORE
Berita sore reported that, ASEAN is scheduled to sign a long-awaited Free Trade Agreement (FTA) with India in Bangkok on Thursday aimed at boosting ...
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- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Deloitte Consulting - India
- VISA Power Limited - India
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Planning Commission, India
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
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