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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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Monday, 21 February 11
CHURCHILL MINING RECEIVES SIGNIFICANT INTEREST, PROPOSALS TO DEVELOP EAST KUTAI COAL PROJECT - PROACTIVE INVESTORS
Proactive Investors reported that, Churchill Mining has received a number of specific proposals to fund and develop its massive East Kutai coa ...
Monday, 21 February 11
ABOLISH 5% DUTY ON COAL IMPORTS: SHINDE
Indian Express reported that, with acute coal shortage of domestic coal threatening to destabilise its power generation plans, the power ministry ha ...
Saturday, 19 February 11
THE FREIGHT MARKET EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The market was quite firm this week with freight rates in South east asia and India/Feast almost up by 30 pct.
However towards end ...
Thursday, 17 February 11
COAL-GEN EUROPE 2011 REAFFIRMS THE IMPORTANCE OF COAL
Press Release: The third COAL-GEN Europe conference and exhibition, kicked off on Tuesday 15 February, with leading experts, professionals and compa ...
Thursday, 17 February 11
UNCERTAINTY AND VOLATILITY - FEARNBULK
Handy
Recovering market as evidenced by the solid USD 16k/day achieved by a handymax from Continent to east Med with scrap. More short period requ ...
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- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Australian Coal Association
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Latin American Coal - Colombia
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Planning Commission, India
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
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