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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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Tuesday, 14 September 10
MID HIGH TEENS FROM WCI, AND HIGH TEENS FROM ECI TO CHINA - BRS
A fairly flat market for the dry bulk segments this week, although the Panamaxes jumped on the back of strong grain exports in the Atlantic. It ...
Tuesday, 14 September 10
HIGH CHARTERING ACTIVITY NEEDS TO KEEP UP FOR DRY BULK RATES TO REMAIN HIGH
Last week’s increase of spot chartering activity pushed dry bulk freight rates to new highs, after a less than lackluster summer. As a result, ...
Monday, 13 September 10
GLENCORE BUYS STAKE IN MINER BUMI
The Jakarta globe reported that, Switzerland-based Glencore International, the world’s largest commodities trader, has quietly acquired a $200 ...
Monday, 13 September 10
IT'S JAI INDONESIA FOR OUR POWER FIRMS
Indian power producers have been compelled to look abroad for fuel to run upcoming facilities, as domestic generation is unlikely to be able to meet ...
Monday, 13 September 10
CIL IN TALKS WITH SHIPPING CORP TO FORM JV FOR COAL IMPORTS
Shipping Corporation of India, the largest domestic shipping liner, may form a joint venture with Coal India for coal imports, a top company officia ...
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- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
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