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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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Thursday, 14 July 11
INDO GOVT. SETS JULY COAL REFERENCE PRICE AT US$ 118.24 PER TON
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia sets coal spot price benchmark for July 2011 at US$ 118.24 per ton, US$ 0 ...
Thursday, 14 July 11
DRY BULK MARKET KEEPS FALLING ON WEAK CAPESIZE SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on retreating on Wednesday, with the Baltic Dry Index (BDI) falling to 1,383 points, from 1,411 of the previous day. Capesi ...
Thursday, 14 July 11
UNITED TRACTORS BUYS DUTA SEJAHTERA - INSIDER STORIES
Insider Stories reported that, PT United Tractors Tbk (UNTR), via a wholly-owned subsidiary PT Tuah Turangga Agung, will acquire PT Duta Sejahtera a ...
Wednesday, 13 July 11
ANOTHER FIRMER WEEK FOR THE CAPES - BRS
Barry Rogliano Salles reported that, there were mixed results for the dry bulk market this week: the Capesize and Panamax markets performed well gai ...
Tuesday, 12 July 11
INDONESIAN MINERS PLAN $70M INVESTMENT TO UPGRADE QUALITY OF COAL - THE JAKARTA GLOBE
One of the leading english language news paper in indonesia, the Jakarta globe reported that, as the government implements a ban on the export of po ...
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- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Eastern Energy - Thailand
- Aditya Birla Group - India
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
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