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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, 20 July 11
ANTWERP RECEIVES THE CAPESIZE MG COURAGE
The deepening of the Western Scheldt has made the port of Antwerp easily accessible not only to Ultra Large Container Ships of over 10,000 TEU but a ...
Wednesday, 20 July 11
KALIMANTAN GOLD APPOINTS COMMISSIONER TO SUBSIDIARY
Kalimantan Gold Corporation Limited has announced the appointment of Dr. Bambang Setiawan as Commissioner (a senior advisor) to the Board of PT Kali ...
Wednesday, 20 July 11
CHALLENGER GETS TABANG PROJECT IUP PERMIT
COALspot.com - Challenger Deep Resources Corporation has been getting exploration permit or Izin Usaha Pertambangan (IUP) for its Tabang coal in Eas ...
Wednesday, 20 July 11
TCM COAL PROJECT IN SOUTH KALIMANTAN MOVES TO FINAL FEASIBILITY STUDY
COALspot.com - Pan Asia Corporation Ltd has executed a formal agreement with an underground mining group KOPEX to undertake a final feasibilit ...
Wednesday, 20 July 11
DRY BULK MARKET KEEPS ON FALLING ON SOFTENING CONDITIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market retreated to lower ground on Tuesday, as the industry’s benchmark, the BDI (Baltic Dry Index) fell to 1,330 points, down b ...
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- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- The University of Queensland
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
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