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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, 12 January 11
BULKER DELIVERIES WEIGHING IN ON FREIGHT RATES KEEPING SENTIMENT ON A NEGATIVE MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A flurry of new buildings still hitting the water has caught up for good with the freight market, with capesizes unable to weather the storm. With r ...
Tuesday, 11 January 11
SUPRAMAX TRIP VIA INDONESIA TO INDIA US$ 8,000 PER DAY
Despite continued growth in the bulk trades, the delivery of new vessels is beginning to take its toll. The BDI continued its decline, finishing las ...
Tuesday, 11 January 11
DRY BULK MARKET REACHES NEW LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s benchmark index, the Baltic Dry Index (BDI) lost further ground in the beginning of the week, following the trend of the ...
Monday, 10 January 11
MINING INVESTMENT TARGET TOO LOW - TEMPO INTERACTIVE
TEMPO Interactive reported that, the Indonesian Mining Association’s executive director, Priyo Pribadi, believes the government’s invest ...
Monday, 10 January 11
COAL MONGOLIA IS INVITING YOU TO THE INTERNATIONAL COAL SECTOR INVESTORS CONFERENCE
COALspot.com - (Press Release) - The Coal Mongolian Conference will take place at Chinggis Hotel, in Ulaanbaatar on 24-25, Feb 2011. The coal bonanz ...
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- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Posco Energy - South Korea
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- The University of Queensland
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Planning Commission, India
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
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