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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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Saturday, 24 July 10
INDONESIAS BUKIT ASAM H1 2010, SALES RAISED 10% TO 6.44 MILLION TONS
COALspot.com: PT Tambang Batubara Bukit Asam (PTBA), Indonesian state owned mining company’s H1 2010, sales raised 10% to 6.44 million tons. T ...
Saturday, 24 July 10
INDONESIAN COAL MINERS ARE REQUIRED TO SUPPLY 64.96 MLN TONS OF COAL TO DOMESTIC MARKET IN 2010
COALspot.com : Minister of Energy and Mineral Resources of Indonesia has issued a ministerial degree related to Domestic market obligation (DMO) for ...
Saturday, 24 July 10
THE BDI SEEMS TO BE RECOVERING AND WAS UP BY ABOUT 6 PCT - CAPT. REDDY
COALspot.com: "The BDI seems to be recovering and was up by about 6 pct this week after losing for almost last 7 weeks", said Capt. Reddy, ...
Saturday, 24 July 10
ANALYSIS - GROWTH IN VESSEL SUPPLY PRESSURES OCEAN FREIGHT RATES
It's common to use global shipping rate trends as a proxy of global economic health. If demand for goods and raw materials are strong, so should it ...
Friday, 23 July 10
KOWEPO TO IMPORT ADDITIONAL 1.2 MILLION TONS OF INDONESIAN COAL WITHIN 5 MONTHS
Korea Western Power Company Limited has finalized around 1.2 million tonnes of Indonesian origin of coal last week. According to K ...
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- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- PTC India Limited - India
- The University of Queensland
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
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