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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, 25 January 24
THE RED SEA ESCALATION IMPLICATIONS ON GLOBAL SEABORNE TRADE - MARIA BERTZELETOU
In recent days, discussions have intensified about the potential impact on the seaborne trade and ton-miles due to the evolving dynamics of market ...
Thursday, 25 January 24
RED SEA SHIPPING DISRUPTIONS KEEP GEOPOLITICAL PREMIUM FOR COMMODITIES - FITCH RATINGS
Shipping disruptions and re-routing away from the Red Sea will maintain the geopolitical premium in the main commodity markets, including for oil a ...
Friday, 19 January 24
INDONESIA TARGETS 710 MLN METRIC TONS COAL OUTPUT IN 2024 AFTER RECORD 2023 - REUTERS
Indonesia, a major thermal coal exporter, aims to produce 710 million metric tons of coal in 2024, its mining minister said on Monday, after postin ...
Friday, 19 January 24
DRUMMOND COLOMBIA COAL OUTPUT ROSE 7.1% IN 2023 - REUTERS
Coal production from miner Drummond’s Colombia operations rose 7.1% in 2023 to 29.5 million metric tons, while exports declined by 2.6% to 27 ...
Friday, 19 January 24
CHINA'S 2023 COAL OUTPUT HITS RECORD HIGH - REUTERS
China’s coal output reached a record high in 2023, data from the statistics bureau showed on Wednesday, amid an ongoing focus on energy secur ...
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- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
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