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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, 21 October 10
WORLDS FIRST, SINGAPORE EXCHANGE TO CLEAR OTC INDONESIAN COAL SWAP - MONDOVISIONE
Mondovisione reported that, Singapore Exchange (SGX) will be the first exchange in the world to clear over-the-counter (OTC) Indonesian Sub-Bitumino ...
Thursday, 21 October 10
MEC WOOS INDIAN POWER FIRMS FOR 50% STAKE SALE - BUSINESS STANDARD
Business-Standard reported that, Singapore-based MEC Coal plans to rope in an Indian power company as a 50 per cent equity partner. It is believed t ...
Thursday, 21 October 10
CAPESIZE, A FANTASTIC WEEK WITH IMPROVED RATES IN BOTH BASINS - FEARNBULK
Handy Activity remains slow this week combined with a lack of fresh enquiry in the Atlantic. Indexes are all negative except Cape but it is worth no ...
Wednesday, 20 October 10
BLENDING OF IMPORTED COAL AT THERMAL PLANT UP TO 30 % MAY BE ALLOWED - PUNJAB NEWS LINE
Punjab News Line reported that, Indian government is considering allowing increase in the blending ratio of imported coal from 10 to 30 percent at t ...
Wednesday, 20 October 10
CANADIAN CHALLENGER ACQUIRES INDONESIAN COAL PROJECT
COALspot.com (Press Release): According to Challenger Deep Resources Corp's website and press release posted on the site, Challenger Deep Res ...
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- Formosa Plastics Group - Taiwan
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- Kohat Cement Company Ltd. - Pakistan
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- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Samtan Co., Ltd - South Korea
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- Romanian Commodities Exchange
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- Renaissance Capital - South Africa
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- Singapore Mercantile Exchange
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- Aditya Birla Group - India
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- Indian Oil Corporation Limited
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- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
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- Ministry of Transport, Egypt
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- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
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- Kaltim Prima Coal - Indonesia
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- Energy Development Corp, Philippines
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- Intertek Mineral Services - Indonesia
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- Medco Energi Mining Internasional
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- Global Coal Blending Company Limited - Australia
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- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
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- Toyota Tsusho Corporation, Japan
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- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Eastern Energy - Thailand
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- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
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- CNBM International Corporation - China
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- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
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- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
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- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
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- Sinarmas Energy and Mining - Indonesia
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- White Energy Company Limited
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
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- Chamber of Mines of South Africa
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- ICICI Bank Limited - India
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- Ministry of Finance - Indonesia
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