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Wednesday, 10 August 11
RESOURCE NATIONALISM IS MAIN BUSINESS RISK FOR MINING SECTORS, E&Y SURVEY
 Resource nationalism is top of the business risk list for mining and metals companies around the world, while supply capacity constraint issues continue to dominate the top 10 rankings in Ernst & Young’s annual Business risks facing mining & metals 2011-2012 report, released today.
Ernst & Young Global Mining & Metals Leader Mike Elliot says in the past 12-18 months at least 25 countries have increased or announced intentions to increase their government take via taxes or royalties. “Resource nationalism is taking other forms as well, including greater controls on foreign participation mandated beneficiation, use it or lose it demands and mandated government participation,” says Elliott.
Vietnam, for example, yesterday announced that export taxes on all kinds of coal would be increased from the current 15 percent to 20 percent as of September 2011, to limit the outflow of the natural resource, according to a new circular issued by Vietnam’s Ministry of Finance. Meanwhile, Indonesia is currently in the process of drafting a new regulation that could ban the export of low-grade coal (below 5100 Kcal/kg) by 2014.
“Resource nationalism reflects the expectation among governments that the sector should be contributing more for the right to exploit natural resources,” he says.
According Ernst & Young, the global skills shortage remains in second spot. Infrastructure access jump from the sixth position last year to the third position this year. The other risks are social license to operate (last year in the 5th position), capital project execution (new), price and currency volatility (9), capital allocation (1), cost management (3), interruptions to supply (new), and the last position fraud and corruption (new).
However, Elliot says it’s the myriad of supply capacity constraints that continue to dominate the risk list, accounting for six of the top 10-including the global skills shortage, capital allocation, infrastructure access, capital project execution, cost management, and interruptions to supply.
“The market is probably excessively optimistic about how much and how quickly new production is going to come on. All these supply capacity risks mean companies are unlikely to be able to capture the premium pricing as quickly. It also impacts the cost profile of projects, so there will need to be a higher rate of return to attract new investment and as a result commodity prices will need to be higher,” Elliot said.
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Wednesday, 17 August 11
TAVESCO KILLARA ENERGY TO ACQUIRE COAL CONCESSIONS IN EAST KALIMANTAN
COALspot.com - Killara Resources Limited, an Australian listed company has formed PT Tavesco Killara Energy (TKE), a joint company with PT Tavesco I ...
Wednesday, 17 August 11
BUMI'S H1 UNDERLYING OPERATING PROFIT $62 MILLION
COALspot.com - Bumi PLC , posted underlying first-half operating profit of $62 million and production at PT Bumi Resources and PT Berau increased to ...
Wednesday, 17 August 11
SHIP OWNERS COULD FACE PAIN ON THE BACK OF GLOOMY ECONOMYS PREDICTIONS - HELLENIC SHIPPING
The latest market turmoil, coupled with the renewed risk of a global recession could very well signal more troubled times for ship owners of all shi ...
Tuesday, 16 August 11
CHALLENGER ENTERED INTO CSPA WITH PELANGI KERTANEGARA TO ACQUIRE 100% STAKE
COALspot.com - Challenger Deep Resources Corp., through its wholly owned subsidiary, P.T. Bestindo Energy, has exercised its option to purchase an a ...
Monday, 15 August 11
ADARO ENERGYS NET INCOME MORE THAN DOUBLES IN FIRST HALF 2011
COALspot.com - Indonesian’s second largest coal producer, Adaro Energy, booked net profit US$ 268 million in the first half 2011, rose two-fol ...
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- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- ICICI Bank Limited - India
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
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