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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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Friday, 05 August 11
THE WORLDS LARGEST COAL MINER TO INVEST IN INDO MINES
COALspot.com - Golden Energy Mines (GEMS) might go for initial public offering (IPO) by the end of September 2011. The company is planning to off lo ...
Friday, 05 August 11
DRY BULK MARKET FINALLY TAKES A BREATHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market at last caught a break mid-week after a constant fall which saw the industry’s benchmark, the BDI (Baltic Dry Index) falli ...
Thursday, 04 August 11
THE HBA CONTINUES TO FALL IN AUGUST
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the August 2011 coal reference price at US$ 117.21 per ton slightly low ...
Wednesday, 03 August 11
DEWA RETURNS TO US$2.65 MIO NET PROFIT - INSIDER STORIES
Coal mining contractor PT Darma Henwa Tbk (DEWA), that most of its revenue is contributed by Kaltim Prima Coal and Arutmin Indonesia, returned to ne ...
Wednesday, 03 August 11
DRY BULK MARKET SINKS TO THREE-MONTH LOWS, BUT CAPESIZES COULD TURN THINGS AROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on falling this week, on the back of slow cargo demand amid the summer season. Yesterday, the BDI (Baltic Dry Index), the i ...
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- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- The University of Queensland
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Parliament of New Zealand
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