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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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Monday, 17 May 10
S. AFRICA CUTS EUROPE COAL SUPPLY, ASIA SALES RISE, TRADER SAYS - BLOOMBERG
Bloomberg reported that, South Africa’s Richards Bay Coal Terminal, Europe’s biggest source of the fuel burned for power, cut shipments ...
Monday, 17 May 10
GREEK CRISIS TO SEE FREIGHT RATES FALL BANGKOK POST
The Greek debt crisis will likely cause shipping rates to fall this quarter enabling SET-listed Precious Shipping Plc to buy second-hand vessels at ...
Monday, 17 May 10
NEWCASTLE COAL QUEUES COULD BE HISTORY - THE HERALD
NEWCASTLE'S infamous coal queues could be a thing of the past if a plan to have the ships anchor over the horizon succeeds against the doubts of it ...
Sunday, 16 May 10
THREE FIRMS SHORTLISTED FOR CIL'S $ 2BN OVERSEAS PROJECTS - ECONOMIC TIMES
Economic Times reported that, State-owned Coal India Ltd (CIL) has shortlisted US firms Massey Energy and Peabody Energy, besides Indonesian Novem/S ...
Sunday, 16 May 10
INDIKA ENERGY & COAL ASSETS EXPANSION
Insider stories reported that, PT Indika Energy Tbk (INDY) has three portfolio coal assets, PT Kideco Jaya Agung, coal asset in East Kalimanta ...
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- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Minerals Council of Australia
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Planning Commission, India
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
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