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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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Monday, 28 September 09
INDONESIA UNLIKELY TO PASS NEW MINING RULES IN 2009
Reuters reported that, Indonesia is unlikely to complete final regulations attached to a new mining and coal law this year, an official said on Mond ...
Monday, 28 September 09
TATA POWER SCOUTS FOR COAL BLOCKS ABROAD
Business Standard reported that, private power producer Tata Power is scouting for coal mines abroad, including Australia and Mozambique, to meet de ...
Saturday, 26 September 09
THE INDIA / FAR EAST SEEMS WILL BE FIRM NEXT WEEK - VISTAAR
COALspot.com (Singapore): The dry bulk market was soft this week and the BDI dropped by almost 7 pct to 2,183 points. The cape size index dropped by ...
Saturday, 26 September 09
GSECL PLANS TO PROCURE 15 LAKH (1.5 MILLION) MT OF IMPORTED COAL
Business Standard reported that, State-run power generation company, Gujarat State Electricity Corporation Ltd (GSECL) intends to procure 15 lakh (1 ...
Saturday, 26 September 09
SAIL TO SET UP TWO SLAG-BASED CEMENT MANUFACTURING UNITS
Rediff Business reported that, Government-owned Steel Authority of India Ltd, the country's largest steel producer, is looking to set up two greenf ...
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- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
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- Independent Power Producers Association of India
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- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
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- Indian Energy Exchange, India
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- Posco Energy - South Korea
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- London Commodity Brokers - England
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- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
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- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Formosa Plastics Group - Taiwan
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- Straits Asia Resources Limited - Singapore
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- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
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- Metalloyd Limited - United Kingdom
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- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
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- Orica Australia Pty. Ltd.
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- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
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- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Australian Coal Association
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- Larsen & Toubro Limited - India
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- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- PTC India Limited - India
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
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- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- The University of Queensland
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- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
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- Jaiprakash Power Ventures ltd
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- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Interocean Group of Companies - India
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- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- The Treasury - Australian Government
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- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
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- Neyveli Lignite Corporation Ltd, - India
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- Wood Mackenzie - Singapore
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- PowerSource Philippines DevCo
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- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
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- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
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- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
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