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Monday, 14 September 09
CIL MAY REDUCE FLOOR PRICE OF E-AUCTION COAL
After receiving a lukewarm response to the forward e-auction started in two of its subsidiaries, Coal India Limited (CIL) is mulling to reduce the floor price of coal being sold through this route.
The forward e-auction process, which started in Western Coalfields Limited (WCL) and Eastern Coalfields Limited (ECL) — the two subsidiaries of CIL last month, has drawn a lacklustre response as the floor price of coal offered through this route was twice the notified price.
The coal consumers cannot buy coal at such high prices through the forward e-auction route and this has prompted CIL to think of a downward revision in the floor price, an industry source told Business Standard.
Two rounds of bidding have been completed so far for the forward e-auction launched in August this year.
In the first round, WCL had offered about 500,000 tonnes of coal through the forward e-auction route out of which sale of only 1,200 tonnes of coal materialized. On the other hand, the coal offered by ECL in the second round drew a blank from the consumers.
Earlier, coal consumers across the country had objected to CIL’s decision to fix the floor price of coal to be sold on the forward e-auction platform at two times higher than the notified price.
The coal consumers alleged that CIL is keen on making greater profit through sale of forward e-auction coal without caring for the interests of the consumers.
On its part, CIL has clarified that high grade coal containing low ash content from the UG mines was to be sold on the forward e-auction platform. The floor price of this coal has to be higher as the cost of coal production from UG mines was higher than that of open cast projects.
Ten per cent of the spot e-auction coal was to be sold through the forward e-auction route.
In 2009-10, 45 million tonnes of coal was to be sold through the e-auction mode and 10 per cent of this coal was proposed to be sold through forward e-auction.
The two platforms for forward e-auction are mjunction.com and MSTC Limited.
Source: Business Standard
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Wednesday, 30 September 09
INDIA CEMENTS SET TO PRODUCE POWER; EYES COAL MINE IN INDONESIA
Financial Express reported that, Tamil Nadu-based India Cements Ltd (ICL) has firmed up plans to produce power to meet its current and future requir ...
Wednesday, 30 September 09
COKING COAL PRICES MAY TOUCH $200/TN IN 2010-11
Business Standard reported that, Driven by surge in imports of coking coal by China, growth in Japanese steel output and signs of recovery in the In ...
Wednesday, 30 September 09
PURNOMO BIDS 'GOODBYE' TO ENERGY MINISTRY
The Jakarta globe reported that, In what could be construed as a resignation speech from a government official — but perhaps wasn’t &mda ...
Tuesday, 29 September 09
MINING AND ENERGY DAY 2009
The Minister of Energy and Mineral Resources, Purnomo Yusgiantoro led the ceremony marking 2009 Mining and Energy Day celebrations, held at the Depa ...
Tuesday, 29 September 09
BUKIT ASAM REDUCES ITS SALES TARGET
Tempo Interactive reported that, PT Tambang Batubara Bukit Asam Tbk has decided to reduce its sales target this year from 14.5 million tons of coal ...
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- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
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- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
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- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
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- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
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- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
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- Vedanta Resources Plc - India
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- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
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- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Romanian Commodities Exchange
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- Bangladesh Power Developement Board
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- Jorong Barutama Greston.PT - Indonesia
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- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
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- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
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- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Central Electricity Authority - India
- Economic Council, Georgia
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- LBH Netherlands Bv - Netherlands
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- Heidelberg Cement - Germany
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- Indonesian Coal Mining Association
- Minerals Council of Australia
- Georgia Ports Authority, United States
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- The Treasury - Australian Government
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- Power Finance Corporation Ltd., India
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- Australian Commodity Traders Exchange
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- Wilmar Investment Holdings
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- Bhatia International Limited - India
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- Binh Thuan Hamico - Vietnam
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- Metalloyd Limited - United Kingdom
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- Electricity Generating Authority of Thailand
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- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Renaissance Capital - South Africa
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- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- The University of Queensland
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- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
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