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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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Wednesday, 31 March 10
DRY BULK MARKET STILL MODERATELY FALLING, BUT POSITIVE SIGNS APPEAR ON THE HORIZON - HELLENIC SHIPPING
The irregularities of the current dry bulk market have been more than evident in the fact that panamax vessels today earn more than their larger cap ...
Wednesday, 31 March 10
INDIKA ENERGYS PROFIT HIT BY FOREX LOSS AND CABOTAGE - THE JAKARTA GLOBE
The Jakarta Globe reportd that, PT Indika Energy posted a 30 percent drop in 2009 net profit due to a foreign exchange loss and impairment of intang ...
Wednesday, 31 March 10
ITMG TO UP COAL OUTPUT DESPITE PERMIT PROBLEMS - THE JAKARTA POST
The Jakarta Post reported that, the country’s third largest coal producer PT Indo Tambang Raya Megah (ITMG) said it can raise output although ...
Tuesday, 30 March 10
ANALYST SEES BDI LIFT, SUGGESTS DRY BULK SHORT SQUEEZE
Analysts at Credit Suisse are bullish on Diana and see a potential short squeeze elsewhere in the sector. The Baltic Dry Index (BDI) -- an industry ...
Tuesday, 30 March 10
CHINA'S DROUGHT RAISES COAL PRICES, LOWERS HYDROPOWER
Bloomberg reported that, Benchmark coal prices at Qinhuangdao, China’s largest port handling the fuel, rose for the first time in 10 weeks aft ...
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- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Deloitte Consulting - India
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Australian Coal Association
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
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