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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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Thursday, 11 February 10
THE INDIAN MARKET SOFTENING A BIT - FEARNRESEARCH
Handy
The BSI has gone down for 3 weeks now but it is more a reflection of the Pac market. Activity in the Atl remains solid and rates remain firm ...
Thursday, 11 February 10
SOUTH AFRICA COAL EXPORTS DROP TO INDIA, CHINA
South African coal exports to India from Richards Bay Coal Terminal fell 39% in January from December's levels while shipments to China dropped 55% ...
Thursday, 11 February 10
JSW STEEL IS CLOSE TO ACQUIRING TWO COAL MINES IN THE US
“We are in advanced stages of negotiation and the deal will be completed in a month or two,” a company official told DNA Money on the co ...
Wednesday, 10 February 10
BHP TAKES MARUWAI SALE OFF THE TABLE, MINISTRY SAYS
Australian mining giant BHP Billiton may cancel a plan to sell a stake in its coal mining project in Maruwai, East Kalimantan, an official at the En ...
Wednesday, 10 February 10
JPMORGAN FORECASTS A 5.7% GROWTH IN SEABORNE IRON ORE SHIPMENTS, 3.8% FOR COAL AND GRAIN THIS YEAR
This year volumes of iron ore transportation by sea may grow to 5.7%, coal and grain up 3.8% over numbers in 2009, Ukrrudprom reports citing analyst ...
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- VISA Power Limited - India
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
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