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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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Friday, 16 July 10
CHINA EXPORTS 10.14 MILLION TONNES OF COAL IN H1 OF 2010
China exported 10.14 million tonnes of coal in the first half of this year, down 13.1% compared with the corresponding period of last year, accordin ...
Thursday, 15 July 10
SMC TO PURSUE MINDANAO COAL MINING PROJECTS
Philippine Daily Inquirer reported that, DIVERSIFYING CONGLOMERATE San Miguel Corp. is inclined to pursue its coal mining projects in Mindanao ...
Thursday, 15 July 10
ADANI ENTERPRISES WILL BUY $1 BILLION COAL MINE FROM LINC ENERGY - TOP NEWS
Top News reported that, Adani Enterprises has almost managed to obtain a coal mine from Linc Energy for $1 billion in Queensland, Australia. This mi ...
Thursday, 15 July 10
ADANI TO DEVELOP COAL EXPORT TERMINAL IN AUSTRALIA - BUSINESS STANDARD
Business-Standard reported that, The Adani Group, promoter of Mundra Port and Special Economic Zone (MPSEZ), today said it has been selected as the ...
Thursday, 15 July 10
NO IMPROVEMENT IN THE DRY BULK MARKET - INTERMODAL
Broker’s insight
With the Baltic Dry Index today (13/7/2010) standing at 1,790 points - the lowest point since early May 2009 - ...
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- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Deloitte Consulting - India
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- ASAPP Information Group - India
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