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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, 14 October 10
COAL PRICES AT QINHUANGDAO PORT UP - CAPITALVUE
Capitalvue reported that, prices of steam coal yielding 5,500 kilocalories per kilogram (kcal/kg) in Qinhuangdao Port have risen five yuan to 715-72 ...
Thursday, 14 October 10
DRY BULK MARKET MAINTAINS POSITIVE TREND ON FIRMER CHINESE IRON ORE DEMAND
The dry bulk market has kept its upward trend set since last week, with the industry’s main benchmark, the Baltic Dry Index (BDI) rising to 2, ...
Tuesday, 12 October 10
DRY BULK MARKET LOOKING FOR DIRECTION AFTER WEEK OF CAPESIZE GROWTH
The dry bulk market ended Monday unchanged from Friday’s closing, today standing at 2,695 points. In summary, the capesize and the supramax se ...
Tuesday, 12 October 10
COAL SPOT TRADING MAY SOOTH PRICING CONFLICTS - GLOBAL TIMES
Global Times reported that, Tianjin-based Bohai Commodity Exchange launched steam coal for spot trading for the first time Monday. Steam coal is mai ...
Monday, 11 October 10
INDONESIAN POWER PLANTS AND OTHER INDUSTRIES TO BURN 78.97 MLN TONS OF COAL IN 2011
COALspot.com: The Minister of Energy and Mineral Resources of Indonesia has issued a ministerial degree 2360 K/30/MEM/ 2010 related to Domestic mark ...
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- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Economic Council, Georgia
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Videocon Industries ltd - India
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
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