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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 would allow auctioning of coal mines to companies without the restriction of captive use.
The postponement comes in the wake of a decision taken by the PM’s Energy Coordination Committee that the bill should be moved only after a consensus is arrived. The committee had taken the decision after the bill was stalled in the face of stiff opposition from trade unions.
The government had asked a ministerial panel under finance minister’s chairmanship to examine the matter and ordered the Planning Commission to prepare a report. The panel has to make specific recommendations on policy measures on exploration and mining of coal.
But in the Budget season, the bill has taken a back seat. The bill has been hanging fire since 2000 when it was moved in the Rajya Sabha. It was cleared by the standing committee in 2001 but no progress was made in the face of stiff opposition from trade unions. At present, private industries are allowed a role in coal mining only for captive use.
The coal ministry has been proposing to opt for a lumpsum payment route for auctioning coal blocks, instead of royalty and profit-share system being followed in case of handing out oil or gas concessions. The bid amount will be realised in instalments over 10 years. Bidders will be asked to make their offer above the floor price worked out on the basis of the government’s estimate of coal reserves in a block.
On June 20 last year, TOI first reported that the ministry was moving to set up a regulator in six months or so before opening up coal mining to private players through the open bidding system.
Source : Times of India
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Saturday, 07 August 10
INDIAN COAL IMPORTS WILL PLAY AN IMPORTANT PART IN KEEPING THE FREIGHT MARKET FIRM IN FUTURE - VISTAAR
COALspot.com: The freight market was volatile with market ending firmed and the BDI crossing 2000 points up by 3 pct, however the BCI was up by 14 p ...
Friday, 06 August 10
KRISHNAPATNAM PORT WINS NON MAJOR PORT AWARD 2ND TIME IN A ROW
COAlspot.com ( Press Release) Krishnapatnam Port, the world-class port on the Indian horizon, took the top honors for the second time in a row, in t ...
Friday, 06 August 10
POLANDS KOPEX GROUP DEVELOPS COAL MINE IN INDONESIA
Polishmarket reported that, Polish mining concern Kopex Group, , is to build the first in Indonesia mechanised underground coal mine. The group is c ...
Thursday, 05 August 10
MORATORIUM MAY HURT NEW PROJECTS: MINING GROUP
The government’s proposed two-year moratorium on issuing new concessions to convert forests and peatlands to other uses may hinder new mining ...
Thursday, 05 August 10
IRON ORE EXPORT BAN COMPOUNDS PROBLEMS OF INDUSTRY - BUSINESS STANDARD
Forex loss of Rs 300 crore (US$ 65.63 million) ; truckers, ports, Railways bear the brunt
The Karnataka government’s move to ban the export ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
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