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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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Wednesday, 19 May 10
DRY BULK FREIGHT RATES' RALLY MAY BE SET TO END
The Baltic Dry Index (BDI) has rallied these past couple of weeks, almost touching the 4,000 point mark. But this positive development for dry bulk ...
Wednesday, 19 May 10
NEWCASTLE WEEKLY EXPORTS RISE; SHIP QUEUE LENGTHENS
Coal shipments from Australia's Newcastle port, the world's biggest export harbor for the fuel used in power stations, rose 2.9 percent last week ...
Tuesday, 18 May 10
THE BDI HIT A FIVE-MONTH HIGH AT THE CLOSE OF LAST WEEK
According to BRS, One of the oldest ship broker, at 3,929 points, the BDI hit a five-month high at the close of last week. The Capesize four time ch ...
Tuesday, 18 May 10
COAL TRADER CHINA QINFA TO BUY TWO BULK CARRIERS FOR 69 MLN USD
China Qinfa Group, a leading non-State-owned coal trader on China's mainland, said Sunday it had signed shipbuilding contracts to pay 69 million U. ...
Monday, 17 May 10
INDONESIA SHIPPED 15.51 PERCENT LESS COAL IN APRIL THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 23,331,542 MT of coal in April 2010, compare to 27.61 million tons in ...
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- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
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