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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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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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- Baramulti Group, Indonesia
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- Bangladesh Power Developement Board
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- New Zealand Coal & Carbon
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- Directorate Of Revenue Intelligence - India
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- Cement Manufacturers Association - India
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- Planning Commission, India
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- Trasteel International SA, Italy
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
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- The State Trading Corporation of India Ltd
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- Parry Sugars Refinery, India
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- Eastern Coal Council - USA
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- European Bulk Services B.V. - Netherlands
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- GAC Shipping (India) Pvt Ltd
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- Kepco SPC Power Corporation, Philippines
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- Electricity Generating Authority of Thailand
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- Xindia Steels Limited - India
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- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
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- Minerals Council of Australia
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- Formosa Plastics Group - Taiwan
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- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
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- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
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