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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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Tuesday, 06 July 10
SHENHUA GROUPS 2013 PROFIT MAY EXCEED $15 BILLION - BUSINESS WEEK
Business Week reported that, Shenhua Group Corp., China’s biggest coal producer, expects profit to exceed 100 billion yuan ($15 billion) by 20 ...
Saturday, 03 July 10
THE FREIGHT MARKET CONTINUES TO BE UNCERTAIN - CAPT. REDDY
COALspot.com: The market continues to soften and the most affect sector was Panamax which was down by almost 20 pct and closed at 2447 points. The C ...
Friday, 02 July 10
SARDA ENERGY TO ACQUIRE COAL MINES IN INDONESIA
India Info Line reported that, Sarda Energy & Minerals Ltd has announced that the authorities in Indonesia have granted the Environment Cle ...
Friday, 02 July 10
DRY BULK MARKET ON A FREEFALL, REACHING ITS LOWEST IN 9 MONTHS
The Baltic Dry Index is off to break more negative records this week, as the dry bulk shipping industry’s main benchmark has failed to find ro ...
Friday, 02 July 10
PROPOSED MINERAL RESOURCE RENT TAX - PRESS RELEASE (2)
Press Release: BHP Billiton, Rio Tinto and Xstrata said today that they are encouraged by the Federal Government’s announcement that it propos ...
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- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Economic Council, Georgia
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
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