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Saturday, 23 January 10
COAL CAMARADERIE
Union coal minister Shriprakash Jaiswal feels Asian countries should join hands in developing minerals, particularly coal.
At the third Asian Mining Congress organised by the Mining, Geological and Metallurgical Institute of India, Jaiswal cited several instances of Asian countries who are the market leaders.
China is the world’s largest coal producer, while India is third.
“Indonesia is also fast emerging as a major coal exporting country. Coal is still the most affordable and locally available fuel and it is the fastest growing mineral for consumption. What we need is greater regional co-operation and collaboration in mineral development, particularly in the coal sector,” Jaiswal said.
“This collaboration can come in the areas of joint exploration or the development of mines,” the minister said.
He said India needed to have access to new coal reserves for its industries.
China’s consul-general Mao Siwei said the governments of both the countries had planned collaborations in coal. “China produces 40 per cent of the total coal production in the world. And China has now become the largest trading partner of India.”
Meanwhile, Coal India has started the process of forging strategic partnerships with producers overseas to bring coal at a price lower than the import price. “Coal companies abroad are witnessing an annual growth rate of 3 per cent. The growth rate is 1 per cent for US companies. India offers a better growth prospect for them,” said Partha S. Bhattacharyya, chairman of Coal India Ltd.
Source: Telegraph India
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Tuesday, 16 February 10
LAW POSES THREAT TO INDONESIA'S COAL INDUSTRY
A zoning law could cost coal miners billions of dollars this year alone, hurt investment in the industry and disrupt the supply of the fuel to the c ...
Tuesday, 16 February 10
KPMG PENS 6-POINT STRATEGY FOR COAL INDIA RESTRUCTURING
Coal India Ltd (CIL) has appointed KPMG Advisory Services Pvt Ltd to advise on consolidating its position as the country’s prime energy provid ...
Monday, 15 February 10
MINING LAW TO BE REVISED
Law No. 4 of 2009 on mineral and coal mining will be revised after a working visit of the Bangka Belitung (Babel) Provincial legislative assembly (D ...
Monday, 15 February 10
EURO COAL PRICES SOFTEN AS CHINESE LUNAR NEW YEAR HOLIDAYS START
Prices of prompt cargoes of coal for delivery into Europe weakened last week on a lack of European demand and market nerves over the possible impact ...
Monday, 15 February 10
INDONESIAN COAL SUFFERS SETBACK AS SUMATRA RAIL LINE HELD UP AGAIN
State-owned coal miner PT Tambang Batubara Bukit Asam’s $1.06 billion rail project in Sumatra faces more delays, and the cost of the project i ...
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