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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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Saturday, 15 May 10
THE AVERAGE CHARTER HIRE FOR CAPE REACHES US$ 49,931 PER DAY - VISTAAR SINGAPORE
COALspot.com: "The freight market was extremely buoyant this week with BDI almost up by 9 pct and the market was very firm in Feast/SE Asia sec ...
Saturday, 15 May 10
DRY BULK MARKET POSTS HEALTHY WEEKLY GAINS
The dry bulk market has reached new highs this week, the second consecutive solid one, with the industry’s benchmark, the Baltic Dry Index (BD ...
Friday, 14 May 10
JSW BUYS COAL MINES IN US, PRODUCTION STARTS IN SEPT
JSW Steel on Friday said it has completed $100 million acquisition of coking coal assets in the US and will start production from September to parti ...
Friday, 14 May 10
KANGAROO RESOURCES TO ACQUIRE INDONESIAN COAL PROJECTS - PROACTIVE INVESTORS
Proactive Investors reported that, Kangaroo Resources (ASX: KRL) is preparing to complete the acquisition of its five outstanding Indonesian coal pr ...
Thursday, 13 May 10
CHINA CONCERNS TO TEST RAW MINERALS - THE AUSTRALIAN
The Australian reported that, COMMODITY prices will remain volatile and drop from recent highs as China's appetite for raw materials softens. James ...
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- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
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