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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, 17 June 20
KOREA SOUTHERN POWER CO INVITED 80000 MT OF LOW CALORIFIC VALUE COAL FOR AUGUST 1H, 2020 LOADING
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 80,000 Metric Tons (MT) Min 4,200 kcal/kg - Max. ...
Tuesday, 16 June 20
A GLOBAL ECONOMIC SLUMP: WHAT WILL IT MEAN FOR METALS AND MINING? - WOOD MACKENZIE
Back before coronavirus knocked “normal” out cold, the key issues for miners were sub-investment prices, rising requirements for ESG an ...
Tuesday, 16 June 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.58 PCT - XINHUA
China Taiyuan coal transaction price index stood at 124.43 points Monday, up 0.58 percent week on week.
The index, released by China ...
Tuesday, 16 June 20
HIGHER IRON ORE PRICES OFFSET CORONAVIRUS-DRIVEN PRODUCTION RISK - FITCH RATINGS
Lower iron ore production in Brazil, resulting from rising coronavirus infections, should only marginally affect the cash flow of Vale and other gl ...
Tuesday, 16 June 20
SHALE SHOCKED - WOOD MACKENZIE
Capturing shut-ins in real time
Oil markets are searching for balance as the world reflects on the impact of the COVID-19 pandemic. ...
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- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- PTC India Limited - India
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- CNBM International Corporation - China
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
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