Monday, 14 Nov 2011
Live Mint reported that India may raise with Australia and Indonesia the issue of policy changes that has made coal imports expensive for Indian companies that own mines in the two countries.
Indian coal minister Mr Sriprakash Jaiswal said that “We shall try to initiate talks with Australia and Indonesia. The Indian government will most certainly take up this issue. We have also raised it and will request MEA also to take it up. But we need to know with some authority that this has been done for sure. We need an authentic letter and then we will tell the MEA that due to this there will be a big impact on coal imports so kindly look into it and ask for some relaxation so that imports are not impacted.”
These interventions will affect the financial viability of imported coal based power projects such as TATA Power Ltd’s Mundra project and Reliance Power Ltd’s Krishnapatnam project both of 4,000MW each because their fuel costs are set to overshoot expectations.
Rising demand at home prompted Indian and Chinese companies to invest in the coal sector in Australia and Indonesia, causing prices of thermal and metallurgical coal to rise and leading governments there to seek a greater share of revenue. While Indonesia has implemented price benchmarking to capture higher royalty and income taxes, which are pegged to the price of coal, Australia has imposed a Minerals Resource Rent Tax a tax on profits generated from the exploitation of non renewable resources, levied on 30% of so called super profits accruing from the mining of iron ore and coal in Australia.
(Sourced from Livemint.com)
Showing posts with label Indonesia and Australia. Show all posts
Showing posts with label Indonesia and Australia. Show all posts
Monday, November 14, 2011
Friday, October 21, 2011
China Guangxi province ranks second for coal imports
Friday, 21 Oct 2011
Southwest China’s Guangxi province has become one of the country’s largest coal importers, second only to Guangdong province.
Coal imports via the ports of Guangxi province have seen continuous increase in recent years, rising to 16.905 million tonnes in 2010 from 3.4 million tonnes in 2005, at an annual growth rate of 37.8%.
Statistics from China General Administration of Customs show that coal imports into Guangxi province totalled 18.758 million tonnes in January through September this year accounting for 15.2% of the country total coal imports during the given period. The imported coal price averaged USD 97.7 per tonne up by 13.8%YoY. The imports of anthracite totalled 9.033 million tonnes, accounting for 48.2% of the province overall coal imports.
Vietnam, Indonesia and Australia are the main suppliers of the fuel, with exports to Guangxi province standing at 8.95 million tonnes, 4.249 million tonnes and 2.831 million tonnes respectively. The combined imports from the three countries occupy 83.5% of the province’s overall imports during January to September.
(source steelhome)
Southwest China’s Guangxi province has become one of the country’s largest coal importers, second only to Guangdong province.
Coal imports via the ports of Guangxi province have seen continuous increase in recent years, rising to 16.905 million tonnes in 2010 from 3.4 million tonnes in 2005, at an annual growth rate of 37.8%.
Statistics from China General Administration of Customs show that coal imports into Guangxi province totalled 18.758 million tonnes in January through September this year accounting for 15.2% of the country total coal imports during the given period. The imported coal price averaged USD 97.7 per tonne up by 13.8%YoY. The imports of anthracite totalled 9.033 million tonnes, accounting for 48.2% of the province overall coal imports.
Vietnam, Indonesia and Australia are the main suppliers of the fuel, with exports to Guangxi province standing at 8.95 million tonnes, 4.249 million tonnes and 2.831 million tonnes respectively. The combined imports from the three countries occupy 83.5% of the province’s overall imports during January to September.
(source steelhome)
Monday, August 8, 2011
Coal India says awaits govt nod for overseas buys
Mon Aug 8, 2011
* In talks for one buy each in U.S., Indonesia, Australia
* Will proceed after green signal from govt-chairman
* To provide about 25 bln rupees for wage rise this fiscal year-official
MUMBAI, Aug 8 (Reuters) - Coal India , the world's largest coal miner, is in talks for one acquisition each in Indonesia, Australia and the United States, its chairman said on Monday, adding it would only proceed after getting the green signal from the government.
The state-owned firm, in which India sold a 10 percent stake last year for $3.4 billion in the country's largest ever IPO, has been in advanced talks with Indonesia's Golden Energy Mines to buy 30 percent stake in its assets, sources had told Reuters in May.
The company has also been in talks with U.S. miners Massey Energy and Peabody Energy for coal assets in the U.S. and Australia, according to recent media reports.
"We have flagged two issues to the government, through the coal ministry. Once these issues are clarified, we can go ahead," Coal India chairman N.C. Jha told reporters after shares in the company were included in India's main stock index .
Coal India, which already has a large degree of financial autonomy, has asked the Indian government for approval for overseas acquisitions even if it doesn't meet the requirement of a minimum 12 percent internal rate of return in these projects and for acquisitions are in unlisted firms.
The likely size of each deal will be below 10 billion rupees ($223.5 million), and the company has set aside 60 billion rupees for acquisitions this fiscal year, Jha said.
India holds 10 percent of the world's coal reserves but local supplies are falling short of demand as the country builds more power plants, and as domestic coal projects run into environmental and land acquisition delays.
The country is likely to import 135 million tonnes of coal in the financial year that began on April 1.
Coal India, which accounts for nearly 80 percent of India's coal output, is currently in wage negotiations with its trade unions, and will effect a price hike only once the impact of higher wages is clear, Jha said.
A senior finance official, however, clarified that the company will make an additional provision of about 25 billion rupees in this fiscal year for the wage increase.
Shares in Coal India, which the market values at $55.7 billion, were trading 0.2 percent higher at 393.50 rupees at 11:50 a.m. (0620 GMT) in a weak Mumbai market . The stock is up about 25 percent so far this year. ($1 = 44.735 Indian Rupees) (sourced Reuters)
* In talks for one buy each in U.S., Indonesia, Australia
* Will proceed after green signal from govt-chairman
* To provide about 25 bln rupees for wage rise this fiscal year-official
MUMBAI, Aug 8 (Reuters) - Coal India , the world's largest coal miner, is in talks for one acquisition each in Indonesia, Australia and the United States, its chairman said on Monday, adding it would only proceed after getting the green signal from the government.
The state-owned firm, in which India sold a 10 percent stake last year for $3.4 billion in the country's largest ever IPO, has been in advanced talks with Indonesia's Golden Energy Mines to buy 30 percent stake in its assets, sources had told Reuters in May.
The company has also been in talks with U.S. miners Massey Energy and Peabody Energy for coal assets in the U.S. and Australia, according to recent media reports.
"We have flagged two issues to the government, through the coal ministry. Once these issues are clarified, we can go ahead," Coal India chairman N.C. Jha told reporters after shares in the company were included in India's main stock index .
Coal India, which already has a large degree of financial autonomy, has asked the Indian government for approval for overseas acquisitions even if it doesn't meet the requirement of a minimum 12 percent internal rate of return in these projects and for acquisitions are in unlisted firms.
The likely size of each deal will be below 10 billion rupees ($223.5 million), and the company has set aside 60 billion rupees for acquisitions this fiscal year, Jha said.
India holds 10 percent of the world's coal reserves but local supplies are falling short of demand as the country builds more power plants, and as domestic coal projects run into environmental and land acquisition delays.
The country is likely to import 135 million tonnes of coal in the financial year that began on April 1.
Coal India, which accounts for nearly 80 percent of India's coal output, is currently in wage negotiations with its trade unions, and will effect a price hike only once the impact of higher wages is clear, Jha said.
A senior finance official, however, clarified that the company will make an additional provision of about 25 billion rupees in this fiscal year for the wage increase.
Shares in Coal India, which the market values at $55.7 billion, were trading 0.2 percent higher at 393.50 rupees at 11:50 a.m. (0620 GMT) in a weak Mumbai market . The stock is up about 25 percent so far this year. ($1 = 44.735 Indian Rupees) (sourced Reuters)
Monday, January 17, 2011
StanChart sees steam rice rising on supply disruption
Monday, 17 Jan 2011
Standard Chartered Global Research has upgraded its 2011 forecasts for global thermal coal prices based on tighter than expected fundamentals but uncertainties loom in China, Indonesia and Australia.
It said that the impressive run in coal markets resembles 2008 but is unlikely to breach its previous high, adding that it was bullish short erm, but highlight the risk of setbacks in 2Q as seasonal demand fades.
StanChart Research said it had on Nov 18, 2010 it had issued a report where it had forecast USD 116 per tonne for Newcastle coal, free on board basis, based on a global deficit of 4.8 million tonnes before the full impact of floods in Australia, in terms of supply disruption had been factored in.
Sourced:The Edge Daily
Standard Chartered Global Research has upgraded its 2011 forecasts for global thermal coal prices based on tighter than expected fundamentals but uncertainties loom in China, Indonesia and Australia.
It said that the impressive run in coal markets resembles 2008 but is unlikely to breach its previous high, adding that it was bullish short erm, but highlight the risk of setbacks in 2Q as seasonal demand fades.
StanChart Research said it had on Nov 18, 2010 it had issued a report where it had forecast USD 116 per tonne for Newcastle coal, free on board basis, based on a global deficit of 4.8 million tonnes before the full impact of floods in Australia, in terms of supply disruption had been factored in.
Sourced:The Edge Daily
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