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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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Sunday, 18 April 10
GOVT FORMS PANEL FOR RS 12,000-CR (US$ 2.711 BILLION) COAL INDIA IPO - ECONOMIC TIMES
Economic Times reported that, the government has formed an inter-ministerial panel to carry forward the proposed Rs 12,000-crore (US$ 2.711 billion) ...
Sunday, 18 April 10
THE FUTURES FOR THREE YEARS (2010-2012) FOR PANAMAX WAS AT AROUND US$ 21500 PER DAY - VISTAAR
COALspot.com: The BDI indices up by 3.30 pct and overall market continued to be firm except for India to Fareast.
“The cape index for the f ...
Saturday, 17 April 10
DRY BULK SHIPPING MARKET ANALYSIS - BIMCO
Strong Chinese steel market is set to cushion the flood of new Capesize vessels entering the dry bulk fleet Demand: The first quarter of 2010 saw up ...
Saturday, 17 April 10
DRY BULK MARKET EDGES HIGHER ON STRONGER DEMAND
The dry bulk market managed to inch higher by the end of the week as brokers indicated that stronger cargo demand pushed freight rates that much hig ...
Friday, 16 April 10
KRISHNAPATNAM PORT IS IRONING ITS WAY INTO RECORD BOOKS
COALspot.com: Krishnapatnam Port achieved a new benchmark by loading 60,021 MT of Iron Ore fines in just 24 hrs surpassing its previous record of 54 ...
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- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- The University of Queensland
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Planning Commission, India
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
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