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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, 15 July 10
IRON ORE PRICING MECHANISMS PUT ON THE SPOT
THE new iron ore pricing mechanisms that killed off the annual benchmark system are coming under pressure. The spot price of the steel feed has fall ...
Thursday, 15 July 10
NTPC TO PURSUE COAL MINE ACQUISITION IN AUSTRALIA, INDONESIA - BUSINESS STANDARD
Business-Standard reported that, NTPC, the India’s largest power producer, has set the ball rolling to acquire coal mines or form joint ventur ...
Wednesday, 14 July 10
SUCCESSFUL COMMISSIONING OF GTLE LOW RANK COAL UPGRADING PLANT
COALspot.com: GTL Energy Ltd (GTL Energy) announced that construction and commissioning of its proprietary ‘first-of-a-kind’, low rank c ...
Tuesday, 13 July 10
BUMI TO PRODUCE MORE THAN 67 MILLION TONS OF COAL IN 2010
COALspot.com: Bumi resources, Indonesia’s largest coal producer has previewed its operating results in KPC/Arutmin for Jan – Jun 2010. A ...
Tuesday, 13 July 10
FURTHER LOSSES FOR BALTIC DRY INDEX ON HIGH VESSEL SUPPLY
The dry bulk market can’t catch a breath, as it has now entered the 7th straight week of losses. The industry’s benchmark, the Baltic Dr ...
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- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- White Energy Company Limited
- Planning Commission, India
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Economic Council, Georgia
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- The University of Queensland
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Thai Mozambique Logistica
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