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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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Saturday, 20 November 10
ITALIAN STEAM COAL MARKET HAS RECOVERED - ITALIAN COAL ASSOCIATION
Press Release - This year Italy will import 17 million tons of steam coal, up 3% from 2009, and 5.5 million tons of coking coal and PCI, up 37% over ...
Friday, 19 November 10
WE'LL THINK ABOUT COAL TOMORROW - ANALYSIS
The future of coal generation in Russia is in question. The largest energy companies have abandoned their initial plans to switch their therma ...
Friday, 19 November 10
DRY BULK MARKET ON THE ROPES WITH BDI PLUNGING TO 2,164 POINTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the panamax markets suffering the most this week, but a ray of hope for the capesize market, which appears to be stabilizing after days of fall ...
Thursday, 18 November 10
WORLD COAL ASSOCIATION WELCOMES NEW CHAIRMAN & SHENHUA GROUP AS NEW MEMBER 17 NOVEMBER 2010
Press Release – The premier global coal industry association marks its 25th anniversary with a new Chairman and welcomes China’s lar ...
Thursday, 18 November 10
MUNDRA PORT AWARDED BEST PRIVATE PORT - COMMODITY ONLINE / HELLENIC SHIPPING
Adani Group owned, Mundra Port has been awarded the Annual Indian Maritime Gateway Award for the Best Private Port of the Year for the third consecu ...
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- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- PTC India Limited - India
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Planning Commission, India
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
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