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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, 20 April 10
INDO HARUM ENERGY WINS US$200MN LOAN PLEDGE FROM BANK SYNDICATE
Indonesian coal producer PT Harum Energy has secured a loan commitment of US$200 million from a syndicate of six banks.
Bank of Tokyo Mitsubishi ...
Tuesday, 20 April 10
PACIFIC SUPRA MARKET WAS STILL SOFTENING - BRS
A modest increase in dry bulk rates this week with activity picking up in the middle of the week. Panamax rates remain above the Capes, and there wa ...
Monday, 19 April 10
IS CHINA TO SUFFER NEW COAL SUPPLY SHORTAGE IN 2010? - XINHUA
Is China likely to suffer a new coal supply shortage in 2010? It's a question haunting many Chinese market analysts now. After a string of several ...
Monday, 19 April 10
WHITE ENERGY BUYS SA COAL - ABC NET
ABC Net reported that, South Australian Coal Limited is being bought by the New South Wales company White Energy.
Shareholders will get a combine ...
Monday, 19 April 10
PLN TO OPERATE COAL MINES IN BID TO FUEL POWER PLANTS
The Jakarta Globe reported that, state electricity utility PT Perusahaan Listrik Negara said on Sunday that it aimed to take over operation of small ...
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- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Planning Commission, India
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- PTC India Limited - India
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
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