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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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Friday, 18 September 09
AUSTRALIA NEWCASTLE COAL PORT: SEEKS INTERIM QUOTA SYSTEM
Reuters reported that, Australia's Newcastle coal terminal wants to re-introduce an interim export quota system after a group of miners led by BHP ...
Friday, 18 September 09
STANCHART TO ADVISE BAYAN ON INDONESIA COAL FINANCING
Indonesian coal miner PT Bayan Resources Tbk said on Wednesday it has appointed Standard Chartered Bank as a financial adviser for raising at least ...
Friday, 18 September 09
COKING COAL SUPPLY TO FALL 3 MILLION TONS IN CHINA ON SHUTDOWN
Bloomberg reported that, Coking coal supply in China, the largest consumer, may fall by 3 million metric tons a month after a mine accident this mon ...
Thursday, 17 September 09
FOUR LEFT IN INDIA'S MMTC COAL IMPORT TENDER-SOURCE
Reuters reported that, India's MMTC Ltd has accepted four out of five submissions for an import tender for 12.5 million tonnes of coal, with a bid ...
Thursday, 17 September 09
INDIA SEEKS COAL
IBT commodities reported that, India is on a coal buying spree. The big Asian nation is scrambling to cover an expected shortfall in domestic supply ...
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Showing 6416 to 6420 news of total 6871 |
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- Romanian Commodities Exchange
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- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
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- Energy Development Corp, Philippines
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- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
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- ASAPP Information Group - India
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
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- Uttam Galva Steels Limited - India
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- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
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- Standard Chartered Bank - UAE
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- Australian Coal Association
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- Directorate General of MIneral and Coal - Indonesia
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- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
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- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
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- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
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- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
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- Xindia Steels Limited - India
- Indian Energy Exchange, India
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- VISA Power Limited - India
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- Goldman Sachs - Singapore
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- Bhoruka Overseas - Indonesia
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- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
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- Eastern Coal Council - USA
- Minerals Council of Australia
- The University of Queensland
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- Cement Manufacturers Association - India
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