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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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Saturday, 13 February 10
COAL INDIA 2010/11 COAL IMPORTS TO JUMP - EXEC
Coal imports by state-run Coal India Ltd are likely to soar to 6-10 million tonnes in fiscal 2010/11 from an expected 1.5-1.7 million tonnes in the ...
Saturday, 13 February 10
RULES MAY FREE $10B OF MINING PROJECTS IN INDONESIA
The government announced on Friday that it had issued two implementing regulations for the new Mining Law that will clear the way for the developmen ...
Saturday, 13 February 10
INDONESIA OFFERS TAX INCENTIVES FOR RENEWABLE ENERGY
Indonesia is offering tax incentives to develop renewable energy projects, including geothermal energy, to cut dependency on fossil fuels, a decree ...
Friday, 12 February 10
MECHEL EYES 2010 COAL OUTPUT AT 28-29 MLN T
Russian steel and coking coal producer Mechel expects coal output to reach 28-29 million tonnes this year, returning to pre-crisis levels thanks to ...
Friday, 12 February 10
TATA POWER: QUARTERLY BLIP
Although the company’s revenues dipped in the December quarter, its long-term story is intact.
Lower power generation and realisations saw ...
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- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- The University of Queensland
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Planning Commission, India
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
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