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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, 02 July 10
MINERALS RESOURCE TAXATION IN AUSTRALIA - PRESS RELEASE
Press Release : Rio Tinto acknowledges the Australian Government’s announcement that the Resource Super Profits Tax (RSPT) proposal will be re ...
Thursday, 01 July 10
TATA POWER TO RAISE US$300 MILLION THROUGH ITS COAL SPVS TO FUND ADDITIONAL ACQUISITIONS AND / OR REDUCE OUTSTANDING DEBT
Stock Markets Review reported that, Tata Power, India’s largest private power player has signed an agreement to raise US$300 million in Bhira ...
Thursday, 01 July 10
HELLENIC SHIPPING NEWS POLL: THE BDI WILL STAY ABOVE 3,000 POINTS IN THE SECOND HALF OF 2010
When Hellenic Shipping News Worldwide prepared June’s poll asking readers about where do they think that the Baltic Dry Index (BDI) will range ...
Thursday, 01 July 10
PANAMAX MARKETS CONTINUE TO DROP IN ALL BASINS - FEARNLEYS
Handy
Atlantic rates continue to slide with little activity. Supras open in USG get low 30´s to Med and mid 40´s to FEast. Hmax/Supra ...
Wednesday, 30 June 10
PTBA TO SUPPLY ADDITIONAL 180 MLN TONS OF COAL TO PLN FOR 20 YEARS
COALspot.com: Indonesia's state-owned coal mining company PT Tambang Batubara Bukit Asam Tbk (PTBA) has entered into a new contract with state owne ...
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- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
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