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Thursday, 29 July 10
GOVT TOO OPTIMISTIC ON IRON, COAL PRICE
 Federal government forecasts of continued strength in iron ore and coal prices, which underpin revenue expectations for the proposed new mining tax, are too optimistic, analysts say The forecasts underpin the government's expectation of $10.5 billion in revenue from the proposed Mineral Resources Rent Tax over the first two years of its implementation from 2012/13.
Gavin Wendt, senior resources analyst for research firm Mine Life Pty Ltd, said the outlook for thermal coal prices was positive but there was a potential for iron ore prices to fall.
Mr Wendt said government forecasts of decades of iron ore and coal sector growth were "wildly optimistic".
"That's the problem with the tax."
While demand continued to grow for thermal coal, which is used in power generation and is in short supply, the coking coal price was tied to the iron ore price due to its role in steelmaking.
Mr Wendt said demand for iron ore was still very strong but supply was starting to catch up as existing mines expanded and new mines opened to take advantage of several years of high prices.
"I'm still very bullish on demand for iron ore ... which will remain strong because steel production will remain strong," he said.
"But there's no shortage of iron ore.
"It's just a matter of how quickly operations get developed.
"Pricing is probably close to its peak, which means we're slowly starting to see the price tail off.
"The bottom is not going to fall out of the iron ore market but the government is being optimistic when it suits them."
Research and consulting firm Wood Mackenzie says the government won't get any additional revenue from coal if prices fall to levels seen just a few years ago.
The government is expected to fund a one per cent reduction in the corporate tax rate with revenue from the new mining tax, reported by
If coal prices remain strong, coal miners will pay an additional $7.4 billion, or eight per cent in government take over the first five years of the tax, Wood Mackenzie head of coal supply research Gero Farruggio said.
Mr Farruggio said coal miners were already battling strong cost inflation and falling productivity.
"Traditionally Australia is viewed as a low-cost exporter, but in our 2010 global thermal coal export cash cost (of production) rankings it is well down the table in sixth place," he said.
"Indonesia dominates the ranking tables with the largest thermal coal production and lowest average cash cost.
"In contrast to Australia, it (Indonesia) has moved to reduce the level of government take from coal production."
Source: Nine Msn / Hellenic Shipping
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Thursday, 29 July 10
BALTIC INDEXES ARE POSITIVE SINCE A FEW DAYS
Handy
Baltic indexes are positive since a few days which could mean that markets have bottomed out (as we correctly predicted in our report of las ...
Wednesday, 28 July 10
INDONESIA'S MERUKH SECURES US$200 MLN INVESTMENT FROM SAN MIGUEL
Trading Market Reported that, Indonesian mining company Merukh Enterprises said it has secured an investment commitment of US$200 million from the P ...
Wednesday, 28 July 10
RIZAL RISJAD MAY OWN 10% BERAU ENERGY
Rizal Risjad, son of Indonesian tycoon Ibrahim Risjad, might own 10% stakes in PT Berau Coal Energy Tbk (BRAU), parent company of Indonesia's fifth ...
Wednesday, 28 July 10
UNUSUAL RAINS TO HIT COAL EXPORTS
COALspot.com: Heavy rains in South and East Kalimantan have compelled coal exporters to delay or cancel coal exports. PT Bayan and PT. TIA hav ...
Tuesday, 27 July 10
INDIA HAS IMPORTED 1.5 MILLION TONS OF COAL LAST WEEK
COALspot.com: Coal imports in Indian ports have reached over 1.5 million tons for the week ended 25 July 2010. According to port agents, aroun ...
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- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- The University of Queensland
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- Minerals Council of Australia
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- White Energy Company Limited
- Central Java Power - Indonesia
- Australian Coal Association
- Eastern Energy - Thailand
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