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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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Monday, 15 February 10
INDONESIA IN TALKS TO RESOLVE BANPU MINE CLOSURE
Indonesia is seeking to resolve a land permiting problem resulting in the closure of a coal mine in Kalimantan operated by a unit of Thailand's top ...
Monday, 15 February 10
PVT ENTRY IN COAL MINING TO BE DELAYED
Entry of private players in coal mining will be delayed. Contrary to expectations, the coal ministry will not move in the Budget session a bill that ...
Sunday, 14 February 10
NEWCASTLE STEAM COAL TRADES AT US$ 91 TO US$ 92
Reuters reported that prompt cargo prices for coal delivered into Europe were largely unchanged recently after a day of subdued trading.
European ...
Saturday, 13 February 10
THE FREIGHT MARKET CONTINUED TO BE WEAK THIS WEEK - CAPT. REDDY
COALspot.com (Singapore): The freight market continued to be weak this week. There have been quite a few spot vessels open Far east and have been fo ...
Saturday, 13 February 10
INDONESIA ISSUES NEW MINING REGULATIONS
Indonesia has issued two new regulations under its mining law to allow firms to start obtaining mining permits, in a move that should increase certa ...
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- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Planning Commission, India
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Australian Coal Association
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
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