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Friday, 08 May 09
B.C.'S MINING INDUSTRY HIGH COAL PRICES TO RECORD 2008 PROFITS - PAGUNTAKA
AGGREGATE pre-tax earnings rose to $3.2 billion, the highest amount in the 41-year history of a PricewaterhouseCoppers survey.
B.C.’s mining industry posted record profits in 2008 — primarily on the strength of coal — but 2009 is not shaping up as well, according to a report released Tuesday.
“It was a fantastic year in 2008,” the report’s co-author Michael Cinnamond said in an interview. “But 2009 won’t be as great. At the end of ‘08 and in early ‘09, prices have come off. So, the level of exploration is starting to fall.”
The report by PricewaterhouseCoopers (PwC), called The Mining Industry in British Columbia - 2008, showed that aggregate pre-tax net earnings for the industry rose by 88 per cent to $3.2 billion, the highest amount in the 41-year history of PwC’s annual survey.
According to a news release, returns on shareholders’ investments reached an unprecedented 98 per cent, up from 46 per cent the previous year.
Cinnamond, a partner in PwC’s mining practice, called the performance amidst the economic downturn “nothing short of outstanding.” He said the 2008 results were mainly driven by increased coal prices that were up 225 per cent to $261 US/tonne over the previous year, with coal representing 86 per cent of total product shipments in 2008. “B.C. is very coal-rich.”
However, he said, prices in April were in the $125 US/tonne range, “a significant reduction from prices realized in 2008, but still high compared to historical averages.”
He said coal will still have a strong performance in 2009, “but not as dramatic as ‘08.”
According to the report, copper concentrates were the second largest contributor of mining revenues in 2008, but were down by 29 per cent to $1.19 billion from $1.66 billion the previous year. The 2008 copper price averaged $3.16 US/lb, but dropped to an average of $1.56/lb in the first quarter of 2009, reflecting weak global demand.
As well, zinc and zinc concentrates contributed net mining revenues of $736 million in 2008, down 40 per cent from $1.2 billion in 2007. Rising gold prices led to a 13-per-cent increase in gold revenues to $231 million in 2008, up from $205 million in 2007. Gold prices continued to strengthen in the first quarter of 2009, averaging $908.71/oz. Silver prices also rose in 2008, pushing revenues from silver up by 10 per cent to $272 million over the year before, the release stated.
Total net mining revenue from molybdenum increased nine per cent to $472 million from $433 million in 2007, while the price dropped five per cent to an average of $28.42/lb. Molybdenum, which is used as a strengthening material in the steel industry, saw a significant price decrease in the last quarter of 2008 and prices remain low in the first quarter of 2009.
Erfan Kazemi, a manager in PwC’s B.C. mining practice, and co-author of the report, also said in a statement that the mining industry contributed $6.1 billion in expenditures to the provincial economy.
Cinnamond said the drop in zinc and copper prices since last year is contributing to a mix of uncertainty and cautious optimism in industry. He said PwC polled 33 CEOs of B.C.-based mining companies in April 2009 and learned that 27 per cent are conserving cash, 39 per cent have implemented spending cuts and 12 per cent are just hanging on. He said about 15 per cent of the respondents reported they are actively seeking acquisitions and looking to grow.
Other key findings of the survey included: total metals and coal shipments from B.C. mines increased by eight per cent to 26,840,000 tonnes in 2008; capital expenditures were $853 million in 2008, a decrease from $964 million in 2007; total exploration expenditure in B.C., estimated at $416 million in 2007, decreased to $367 million in 2008; and the mining industry made total payments to the government of $545 million.
Source: http://paguntaka.org/2009/05/07/bcs-mining-industry-high-coal-prices-to-record-2008-profits/
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Wednesday, 20 May 09
COAL & OIL BAGS TWO CONTRACTS TO SUPPLY COAL TO CEMENT & SUGAR INDUSTRY IN INDIA
COALspot.com: According to website of Coal & Oil Company, Aditya Birla Group (Ultratech) have placed orders with Coal and Oil Company for supply ...
Wednesday, 20 May 09
CIL MAY URGE NEW GOVERNMENT TO HIKE COAL PRICE - STEELGURU
BL reported that soon after assuming office the new government may be faced with a proposal for an increase in prices of coal by Coal India Limited ...
Wednesday, 20 May 09
S.KOREA COAL IMPORTS IN APRIL DOWN 22 PCT Y/Y - REUTERS
South Korea's imports of heating coal in April fell 22 percent from a year earlier on bearish demand from domestic utilities, industry data showed ...
Wednesday, 20 May 09
THE WORLD'S TOP COAL TRADING COMPANIES - REUTERS
The international physical steam coal market has become increasingly liquid and tradeable during the past five years.
Physical global seaborne co ...
Wednesday, 20 May 09
SHIPPING INDEX RISES TO 7-MONTH HIGH AS CHINESE DEMAND ADVANCES - BLOOMBERG
The Baltic Dry Index, a measure of shipping costs for commodities, rose to a seven-month high in London on accelerating Chinese demand for iron ore. ...
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- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- The University of Queensland
- Planning Commission, India
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
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