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Thursday, 25 June 20
ALL YOU WANT TO KNOW ABOUT COAL MINE AUCTIONS - THE HINDU BUSINESS LINE
Last week, Prime Minister Narendra Modi threw open the auction of 41 coal blocks for commercial mining. The decision, which was part of the announcements made by the Centre under the Atmanirbhar Bharat Abhiyan, was already proposed in January through the Mineral Laws (Amendment) Ordinance, 2020.
What is it?
These auctions invite participants to mine coal blocks by bids on the percentage value of coal sold that they will be willing to share with the government. Successful bidders will obtain leasing rights from State governments to mine a coal block for a certain period.
What’s new about the recent auction of 41 coal blocks is that this is the first time private players have been allowed to mine coal for commercial mining purposes, without any end-use restrictions. That is, unlike now, mined coal can be sold outside. There is no requirement that it should be used only for the firms’ own consumption.
India has a long history of commercial mining, for about 200 years starting from 1774. In the second half of the 20th century, the government took note of the inadequate capital investments from private players to meet the burgeoning energy needs of the country. Some private coal miners were found to be using unscientific coal mining practices and providing poor working conditions for labour. This led to the Central Government taking a decision to nationalise private coal mines. The nationalisation was done in two phases, from 1971-1973. That’s how the Coal Mines (Nationalisation) Act, 1973 was enacted, which restricted coal mining operations mainly to government entities.
The recent decision to allow private firms to participate in the bidding process with a reduced upfront amount, the facility of adjustment of upfront amount against royalty, liberal operational efficiency parameters, and 100 per cent FDI through automatic route is a watershed moment for India’s energy industry. Further, allowing a revenue-sharing basis (a percentage of revenue share (final bid) has to be paid to the government on the sale of coal) as against the current mechanism of paying fixed rupee per tonne, may also encourage private players to take participation in the auction process.
Why is it important?
Despite India being the world’s fourth-largest country in terms of availability of coal reserves, we still import around 240 million tonnes (mt) of coal a year valued at about ₹1.7 lakh crore. Almost the entire requirement of coking coal, a key raw material for steel, is imported as the domestic availability of high-quality coking coal is limited. According to the Coal Ministry, the 41 mines opened for auction now can hit a peak production of 225 mt in 2025-26, saving precious foreign exchange.
The High Powered Expert Committee formed in 2017 to examine the efficacy and challenges in coal mining auctions recommended a gradual shift from the allocation of coal blocks for own consumption to allocation of blocks for commercial mining. It expected that commercial mining of coal would help tap the locally available reserves and increase the availability of coal in the Indian market at a cheaper price making us less dependent on imports.
Why should I care?
On launching the auction of 41 coal blocks last week, the Prime Minister said that coal would be brought out “after decades of lockdown” and private sector involvement would help realise ₹33,000 crore of capital investment in the next five years. Should private investments flow in, it can give a leg up to the economic activity within the country and play an important role in job and income creation.
In addition, higher production and surplus availability of coal may lead to fall in its prices, which may reduce the cost of electricity consumed by the households and industries. Currently, coal-fired plants generate about 70 per cent of India’s electricity.
But weighed against this, is the question of is whether this has this move come a little too late in the day, and will it see enthusiastic bidding? India’s energy mix is already shifting towards cleaner renewables, the cost of producing power through cleaner routes has been falling and global players are shying away from polluting fuel.
The bottomline
Its a fine balance between short-term cost savings and long-term environmental impact
A weekly column that puts the fun into learning
Source: Satya Sontanam | The Hindu Business Line
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Wednesday, 01 July 20
COLOMBIA'S COAL EXPORT VOLUMES HAVE STEADILY DECLINED IN RECENT YEARS - BANCHERO COSTA
Colombia is the world’s fifth largest seaborne exporter of coal, coming after Australia, Indonesia, Russia and the USA.
Export ...
Wednesday, 01 July 20
MARKET INSIGHT - INTERMODAL
It was beginning of 2020 – close to 6 months from now – when we first experienced the huge impact of the COVID 19 outbreak on Ship Repa ...
Monday, 29 June 20
INDONESIAN COAL AT THE MERCY OF THE DRAGON AND TIGER - GHEE PEH | IEEFA
Coal sector analysts have been busy in recent months mapping the negative impact of low coal prices from the COVID-19 pandemic on Indonesian coal c ...
Monday, 29 June 20
FALLING DEMAND IN CHINA AND INDIA SIGNAL TOUGH TIMES AHEAD FOR INDONESIAN EXPORTS - GHEE PEH | EEFA
Assessing the Impact on Indonesian Coal Companies
The bad news for Indonesia’s coal companies is that they are likely to have ...
Monday, 29 June 20
INDIA COAL IMPORT OUTLOOK: WEAK DEMAND, IMPORT SUBSTITUTION, EXPECT 20% YOY DECLINE - GHEE PEH | IEEFA
For India, the coal demand indicators have clearly turned negative.
According to Argus Media, since the government declared a ...
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- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Australian Coal Association
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- The University of Queensland
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
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