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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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Tuesday, 04 May 10
DRY BULK MARKET SOFTENING AGAIN ON LACK OF DIRECTION
The dry bulk market has put on the brakes once again, after the last session of the Baltic Dry Index ended at 3,354 points, down 5 from the previous ...
Monday, 03 May 10
AUSTRALIA PLANS 40 PERCENT TAX ON MINING PROFITS - THE JAKARTA POST
The Jakarta Post reported that, Australia would heavily tax the booming profits of its mining companies under a tax system overhaul proposed Sunday ...
Saturday, 01 May 10
THE PERIOD ACTIVITY WAS QUITE FIRM DURING THE WEEK - CAPT. REDDY
COALspot.com: The BDI was up by 11.32 pct which was mainly due to the firmness in capsize index which was up by 21.55 pct .
The other sectors Pan ...
Saturday, 01 May 10
EXPANDED SA COAL TERMINAL TO START OPERATIONS ON MAY 1 - MINING WEEKLY
Mining Weekly reported that, In line with expectations, the Richards Bay Coal Terminal (RBCT) had completed the R1,2-billion Phase V expansion ...
Thursday, 29 April 10
SOUTH AFRICAN ROUNDS BACK TO INDIA SUPRAS CAN ACHIEVE AROUND MID 20S
Handy
Atlantic markets remain firm. Supramaxes open in USG are now achieving low/mid&n ...
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- Mercator Lines Limited - India
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Economic Council, Georgia
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- GMR Energy Limited - India
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
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