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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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Sunday, 11 July 10
OVERALL NO OR NEGLIGIBLE IMPACT IN ARUTMIN MINE - BUMI
COALspot.com: Bumi denies the media reports on an impact of unusually rains on coal production in BUMI mines.
"Arutmin is being impacted by ...
Saturday, 10 July 10
FREIGHT MARKET SITUATION MAY CONTINUE FOR NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com: The market continued to soften further with the cape and panamax index down by about 20 pct and closed at 2,102 and 1,944 points respe ...
Saturday, 10 July 10
STC OF INDIA TO ASSOCIATE WITH FUEL SUPPLIERS
COALspot.com: State Trading corporation of India, which is under Ministry of Commerce, has invited Expression of Interest from coal suppliers ...
Saturday, 10 July 10
SCOMI TO SELL STAKE IN INDONESIA OPS - THE STAR
The star online reported that, Scomi Marine Bhd will sell a stake in its marine logistics business in Indonesia to a large Indonesian company to dea ...
Thursday, 08 July 10
KPCL RECEIVES 8 QUALIFIED BIDS TO SUPPLY 500,000 MT OF COAL
COALspot.com: Indian state utility KARNATAKA POWER CORPORATION LIMITED has opened price bid yesterday.
According to a participant, the quo ...
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- Chamber of Mines of South Africa
- Aditya Birla Group - India
- The University of Queensland
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- White Energy Company Limited
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
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