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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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Thursday, 15 July 10
NO IMPROVEMENT IN THE DRY BULK MARKET - INTERMODAL
Broker’s insight
With the Baltic Dry Index today (13/7/2010) standing at 1,790 points - the lowest point since early May 2009 - ...
Thursday, 15 July 10
IRON ORE PRICING MECHANISMS PUT ON THE SPOT
THE new iron ore pricing mechanisms that killed off the annual benchmark system are coming under pressure. The spot price of the steel feed has fall ...
Thursday, 15 July 10
NTPC TO PURSUE COAL MINE ACQUISITION IN AUSTRALIA, INDONESIA - BUSINESS STANDARD
Business-Standard reported that, NTPC, the India’s largest power producer, has set the ball rolling to acquire coal mines or form joint ventur ...
Wednesday, 14 July 10
SUCCESSFUL COMMISSIONING OF GTLE LOW RANK COAL UPGRADING PLANT
COALspot.com: GTL Energy Ltd (GTL Energy) announced that construction and commissioning of its proprietary ‘first-of-a-kind’, low rank c ...
Tuesday, 13 July 10
BUMI TO PRODUCE MORE THAN 67 MILLION TONS OF COAL IN 2010
COALspot.com: Bumi resources, Indonesia’s largest coal producer has previewed its operating results in KPC/Arutmin for Jan – Jun 2010. A ...
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- Planning Commission, India
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- Antam Resourcindo - Indonesia
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- GN Power Mariveles Coal Plant, Philippines
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- Energy Link Ltd, New Zealand
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- Chamber of Mines of South Africa
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- Thiess Contractors Indonesia
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- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
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- Mjunction Services Limited - India
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- Indian Oil Corporation Limited
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- Sindya Power Generating Company Private Ltd
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- New Zealand Coal & Carbon
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- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
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- Pipit Mutiara Jaya. PT, Indonesia
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- Global Green Power PLC Corporation, Philippines
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- Australian Coal Association
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Timah Investasi Mineral - Indoneisa
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- Global Coal Blending Company Limited - Australia
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- Indonesian Coal Mining Association
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- White Energy Company Limited
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- Thai Mozambique Logistica
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- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
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- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
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