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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, 27 July 10
DRY BULK SPOT CARGO DEMAND SHARPLY UP, TRIGGERING RISE IN RATES
Hot on the heels of the dry bulk market’s first weekly gain in almost two months, Monday began on a similar note, with the Baltic Dry Index (B ...
Tuesday, 27 July 10
KANGAROO RESOURCES INKS 297MT COAL RESOURCE FOR TANUR JAYA PROJECT
Kangaroo Resources has reported JORC Code compliant open cut Coal Resources totalling 297 million tonnes for the Tanur Jaya Coal Project in East Kal ...
Monday, 26 July 10
INDONESIAN COAL PRICE REFERENCE FOR JULY 2010 IS US$ 96.65 PER TON FOB VESSEL
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Monday, 26 July 10
BHATIA INTERNATIONAL, MIGHT GRAB THE MAJORITY OF COAL SUPPLY ORDER FROM MAHAGENCO
COALspot.com: Maharashtra State Power Generation Co., a provider of electricity to India’s commercial hub Mumbai, has received price bids from ...
Monday, 26 July 10
CEMENT MAKERS EXPLORE NEW FUELS TO REPLACE COAL - ECONOMIC TIMES
Economic Times reported that, As the cement industry reels under high raw material costs and reduced coal linkages, companies are exploring alternat ...
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- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Planning Commission, India
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
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