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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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Wednesday, 30 December 09
CHINA'S 2010 COAL DEMAND COULD RISE 4%-6%, ACCORDING TO CHINA SECURITIES JOURNAL
China, which is the world’s second-largest energy user, may consume between 4 and 6% more coal next year on continued economic growth, China S ...
Tuesday, 29 December 09
PROFIT IN COAL INDUSTRY DOWN 9.4% Y-O-Y IN JAN.- NOV.
In November, China's coal production was 289mln tons, up 26.3% year on year, an increase of 5.2% over last month. China's average daily trucks loa ...
Tuesday, 29 December 09
DHARMA HENWA EYES 20% REVENUE GROWTH
Local integrated mining services provider PT Dharma Henwa, which was earlier this year acquired by coal mining giant PT Bumi Resources, expects reve ...
Monday, 28 December 09
NEED TO IMPORT COAL COMES EARLY
Viet Nam may need to start importing coal as early as 2012, three years earlier than expected, to meet its electricity demands.
The Viet Nam Coal ...
Monday, 28 December 09
GOVT EYES $3.57B MINING, GEOTHERMAL INVESTMENT
The country can expect up to US$3.57 billion in investment in mining and geothermal energy next year, which would represent an increase by more than ...
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- Indogreen Group - Indonesia
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- Australian Coal Association
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- Energy Development Corp, Philippines
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- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
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- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
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- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
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- Gujarat Electricity Regulatory Commission - India
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- Bayan Resources Tbk. - Indonesia
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- Semirara Mining Corp, Philippines
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- Indian Oil Corporation Limited
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- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
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- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
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- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
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- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
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- Neyveli Lignite Corporation Ltd, - India
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- Bhushan Steel Limited - India
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- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
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- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
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- White Energy Company Limited
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- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
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- Madhucon Powers Ltd - India
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- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
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- London Commodity Brokers - England
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- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
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- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
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- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
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- Minerals Council of Australia
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- Power Finance Corporation Ltd., India
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- Tamil Nadu electricity Board
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- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
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- Electricity Authority, New Zealand
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- Thai Mozambique Logistica
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- MS Steel International - UAE
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- Goldman Sachs - Singapore
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- San Jose City I Power Corp, Philippines
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