{"id":9870,"date":"2012-04-12T16:10:11","date_gmt":"2012-04-12T14:10:11","guid":{"rendered":"http:\/\/www.myza.co.za\/04\/update-1-indian-states-to-get-more-from-coal-royalties\/"},"modified":"2012-04-12T16:10:11","modified_gmt":"2012-04-12T14:10:11","slug":"update-1-indian-states-to-get-more-from-coal-royalties","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-1-indian-states-to-get-more-from-coal-royalties\/","title":{"rendered":"UPDATE 1-Indian states to get more from coal royalties"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>(Adds details)<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocation\">NEW DELHI, April 12<\/span> (Reuters) &#8211; India has changed coal<br \/>\nroyalties to a flat 14 percent of the pithead price from a<br \/>\nprevious 10-14 percent depending partly on the grade of the<br \/>\ncommodity, handing its states a bigger share from mining of the<br \/>\npower-producing material.<\/p>\n<p><span><\/span><\/p>\n<p>The change will result in a revenue increase for<br \/>\ncoal-bearing states by an average of 17.3 percent, a government<br \/>\nstatement said on Thursday, after the cabinet approved the<br \/>\nproposal. A royalty of six percent on lignite was also approved.<\/p>\n<p><span><\/span><\/p>\n<p>Indian states have long complained of being short-changed on<br \/>\nmining of their natural resources such as coal and iron ore,<br \/>\nprompting the government to set up a panel to look into raising<br \/>\nroyalties in 2010.<\/p>\n<p><span><\/span><\/p>\n<p>India, the world&#8217;s third-largest coal producer, last raised<br \/>\nroyalties in 2007. Royalty costs are passed on to consumers such<br \/>\nas power stations and steel plants. Coal India is the country&#8217;s<br \/>\nbiggest producer, accounting for 80 percent of total production.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;The implementation of above revised rates of royalty on<br \/>\ncoal and lignite would provide coal and lignite bearing States<br \/>\nreasonable share of the income earned by mining, production and<br \/>\nselling of these minerals,&#8221; the statement said.<\/p>\n<p><span><\/span><\/p>\n<p>Coal accounts for more than half of India&#8217;s power generation<br \/>\nand will be required for 85 percent of the 76,000 megawatts<br \/>\nadditional capacity targeted in the next five years.<\/p>\n<p><span><\/span><\/p>\n<p>But domestic supply has fallen short of targets and the<br \/>\ncountry has a power shortfall which at its peak can hit 11<br \/>\npercent with frequent power cuts, especially outside cities.<\/p>\n<p><span><\/span><\/p>\n<p>India, which sits on the world&#8217;s fifth-largest coal<br \/>\nreserves, imported about 80 million tonnes of coal for power<br \/>\nlast year and that figure could rise to 400 million tonnes in<br \/>\n2030, research consultants Wood Mackenzie said. \t<\/p>\n<p> (Reporting by Krittivas Mukherjee; Editing by Jo Winterbottom)<\/p>\n<p><span><\/span><\/p>\n<p class=\"copyright\">\n<p>         \t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Adds details) NEW DELHI, April 12 (Reuters) &#8211; India has changed coal royalties to a flat 14 percent of the pithead price from a previous 10-14 percent depending partly on the grade of the commodity, handing its states a bigger share from mining of the power-producing material. The change will result in a revenue increase [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-9870","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/9870","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=9870"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/9870\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=9870"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=9870"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=9870"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}