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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, 25 January 11
DRY BULK RATES CONTINUED TO TUMBLE LAST WEEK - BRS
With weather-related problems affecting the short-term outlook, and new building deliveries the longer-term picture, dry bulk rates continued to tum ...
Tuesday, 25 January 11
R-POWER TO INVEST $5BN IN INDONESIA - THE TIMES OF INDIA
The Times of India reported that, In what is being seen as one of the largest foreign investments in Indonesia, Reliance Power will infuse $5 billio ...
Monday, 24 January 11
GOVT PROMISES COAL FOR PLN DESPITE PRICE SPIKES - THE JAKARTA POST
The Jakarta Post reported that, the government says state electricity company PT PLN will receive enough coal to fire its power plants, despite pric ...
Monday, 24 January 11
DRY BULK MARKETS DOWNTURN SEES NO RELIEF - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept falling for yet another week, with the industry’s benchmark, the Baltic Dry Index (BDI) losing an additional 4.79 ...
Sunday, 23 January 11
THE AVERAGE CHARTER RATE FOR CAPE SIZE VESSELS WAS AT $ 8,859 PD ALMOST CLOSE TO 2008 LOWS - VISTAAR
COALspot.com - The BDI continues to drop and saw a drop of about 5 pct this week closing at 1,370 points. “ In May 2010 the BDI touched ...
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- Parliament of New Zealand
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Minerals Council of Australia
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
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