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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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Friday, 19 June 20
INDIA'S COAL CONSUMPTION GROWTH IN 2019 SLOWEST SINCE 2001: BP STATS REVIEW - HINDU BUSINESS LINE
Growth in global energy markets slowed in 2019 in line with weaker economic growth, according to the bp Statistical Review of World Energy 2020. Th ...
Friday, 19 June 20
KOWEPO TO IMPORT 1,050,000 MT OF MIN 5300 NCV COAL FOR THREE YEARS
COALspot.com: Korera Western Power Co., Ltd. (KOWEPO) has issued an International tender for Total 1,050k MT Min.5,300 kcal/kg NCV coal for t ...
Thursday, 18 June 20
INDIA: GOVT'S PLAN TO CUT COAL IMPORT GOES FOR A TOSS AS FY20 BREAKS LOGISTICS CHAIN; LOCAL OUTPUT STAGNANT - FINANCIAL EXPRESS
Weak logistics support and disrupted supply chain towards the end of the last financial year 2019-20 hit the government’s plan to cut coal im ...
Thursday, 18 June 20
INDIA: THERMAL PLANTS TO OPERATE BELOW 53% CAPACITY IN FY21 AS POWER DEMAND DIPS - BUSINESS STANDARD
The Plant Load Factor (PLF) of thermal power stations across the country is projected to dip below 53 per cent in this fiscal. Muted power demand f ...
Wednesday, 17 June 20
MARKET INSIGHT - INTERMODAL
After experiencing record earnings during the first half of the year, the focus of headlines concerning the tanker market has shifted from the deve ...
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- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Planning Commission, India
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- White Energy Company Limited
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