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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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Tuesday, 12 July 11
DRY BULK MARKET BEGINS WEEK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was evident by the end of the previous week, the dry bulk market’s growth momentum was about to lose steam, something proven yesterday, whe ...
Monday, 11 July 11
REFLECTIONS ON THE FLEET REACHING ONE BILLION TONNES - CLARKSONS / HELLENIC SHIPPING
“A billion gross tonnes of shipping” has a nice ring to it. It presents the industry as a business of substance, with its 85,000 ships w ...
Sunday, 10 July 11
UNTR PROVIDES US$100 MIO TO TTA - INSIDER STORIES
PT United Tractors Tbk (UNTR) agreed to allocate US$100 million to its coal subsidiary dubbed PT Tuah Turangga Agung (TTA).The US$100 million was pa ...
Sunday, 10 July 11
HARDLY ANY CARGO FROM WC INDIA UNTIL END OF MONSOONS - VISTAAR
COALspot.com - The BDI continued to hold last week and firmed up by 27 points with cape and panama index supporting the BDI.
The BDI closed at 1, ...
Sunday, 10 July 11
PTBA INCREASES SHARES IN COAL TRAIN PROJECT - TEMPO INTERACTIVE
TEMPO Interactive reported that, PT Tambang Batubara Bukit Asam (PTBA) is still studying the plan to buy 20 percent of shares in the PT Bukit Asam T ...
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- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Economic Council, Georgia
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