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Wednesday, 09 December 09
COAL INDIA YET TO IMPLEMENT IMPORT LINKED PRICES
 Coal India Ltd is adopting a conservative approach in pricing despite being allowed to charge import-linked price for the country's minuscule reserve of 12-13 million tonnes of A- and B-grade high quality coal. The company was allowed to charge import-linked price for superior grade coal in October.
Eastern Coalfields Ltd, which has the country's largest reserve of 11 million tonnes of superior coal having highest energy value and low sulphur content, recently entered into MoUs with four West Bengal-based power producers to sell the underground production of 5 million tonnes of A- and B- grade coal at an import-linked price of Rs 3,500-3,700 (US$ 74.82 - 79.10) a tonne. The four power producers are CESC Ltd, West Bengal Power Development Corporation Ltd, Durgapur Projects Ltd and Damodar Valley Corporation.
The landed price to the producers will include 25 per cent cess and Rs 6 (US$ 0.12 ) a tonne of royalty collected by the West Bengal Government plus freight. Till the coal price hike in October, the notified price of A- and B- grade coal at pit head was Rs 1,700-1,800 (US$ 36.34 - 38.48) a tonne.
According to an industry source, the price of similar grade Australian coal (of over 6,000 Kcal/kg of gross calorific value) is approximately $65 a tonne on FOB basis. After inclusion of $25 a tonne of ocean freight cost, the landed price of similar imported coal is Rs 4,500 (US$ 96.17) a tonne at today's exchange rate.
“We are yet to devise a finer mechanism for charging import-linked price and have priced our underground production of superior coal at 15-16 per cent lower than the landed cost of imported coal.
However, we are charging the notified price (Rs 2,200-2,300 (US$ 47 - 49.15) a tonne) open cast production of A- and B-grade coal.
The weighted average of price of the coal on million Kcal basis works out to be approximately 50 per cent cheaper than the imported coal,” a CIL official said.
According to him, following introduction of import-linked price ECL's underground operations may break-even beginning this fiscal.
Apart from ECL, South Eastern Coalfields Ltd has small quantities of A- and B-grade coal reserves. However the company is yet to charge import-linked prices. (1 USD = 46.7942 INR)
Source: Business Line
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Monday, 15 February 10
MEC INFRA TO COMMISSION INDONESIA RAIL PROJECT
A joint venture between Ras Al Khaimah Investment Authority (Rakia) RAK Investment Authority and Minerals Energy and Commodities Holdings, a f ...
Monday, 15 February 10
INDONESIA IN TALKS TO RESOLVE BANPU MINE CLOSURE
Indonesia is seeking to resolve a land permiting problem resulting in the closure of a coal mine in Kalimantan operated by a unit of Thailand's top ...
Monday, 15 February 10
PVT ENTRY IN COAL MINING TO BE DELAYED
Entry of private players in coal mining will be delayed. Contrary to expectations, the coal ministry will not move in the Budget session a bill that ...
Sunday, 14 February 10
NEWCASTLE STEAM COAL TRADES AT US$ 91 TO US$ 92
Reuters reported that prompt cargo prices for coal delivered into Europe were largely unchanged recently after a day of subdued trading.
European ...
Saturday, 13 February 10
THE FREIGHT MARKET CONTINUED TO BE WEAK THIS WEEK - CAPT. REDDY
COALspot.com (Singapore): The freight market continued to be weak this week. There have been quite a few spot vessels open Far east and have been fo ...
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- IHS Mccloskey Coal Group - USA
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- Siam City Cement - Thailand
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- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
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- Africa Commodities Group - South Africa
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- Minerals Council of Australia
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- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
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- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Economic Council, Georgia
- Indian Energy Exchange, India
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- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
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- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
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- Kartika Selabumi Mining - Indonesia
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- Rio Tinto Coal - Australia
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- The University of Queensland
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- Directorate General of MIneral and Coal - Indonesia
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- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
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- Chamber of Mines of South Africa
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- Edison Trading Spa - Italy
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- Singapore Mercantile Exchange
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- SMG Consultants - Indonesia
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- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
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- Bhoruka Overseas - Indonesia
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- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
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- Xindia Steels Limited - India
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- Intertek Mineral Services - Indonesia
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- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
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- Bukit Asam (Persero) Tbk - Indonesia
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