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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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Friday, 12 February 10
TATA POWER: QUARTERLY BLIP
Although the company’s revenues dipped in the December quarter, its long-term story is intact.
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Thursday, 11 February 10
THE INDIAN MARKET SOFTENING A BIT - FEARNRESEARCH
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Thursday, 11 February 10
SOUTH AFRICA COAL EXPORTS DROP TO INDIA, CHINA
South African coal exports to India from Richards Bay Coal Terminal fell 39% in January from December's levels while shipments to China dropped 55% ...
Thursday, 11 February 10
JSW STEEL IS CLOSE TO ACQUIRING TWO COAL MINES IN THE US
“We are in advanced stages of negotiation and the deal will be completed in a month or two,” a company official told DNA Money on the co ...
Wednesday, 10 February 10
BHP TAKES MARUWAI SALE OFF THE TABLE, MINISTRY SAYS
Australian mining giant BHP Billiton may cancel a plan to sell a stake in its coal mining project in Maruwai, East Kalimantan, an official at the En ...
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- Alfred C Toepfer International GmbH - Germany
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- Minerals Council of Australia
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- MS Steel International - UAE
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- Australian Coal Association
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
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- Parliament of New Zealand
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- Global Coal Blending Company Limited - Australia
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- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
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- Eastern Coal Council - USA
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- Pipit Mutiara Jaya. PT, Indonesia
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- Bangladesh Power Developement Board
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- LBH Netherlands Bv - Netherlands
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- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
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- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
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- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
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- Ambuja Cements Ltd - India
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- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
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- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
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- Intertek Mineral Services - Indonesia
- White Energy Company Limited
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- PTC India Limited - India
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