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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, 08 February 10
BLACK RIDGE MINING APPOINTS INDEPENDENT CONSULTANT
Australian-listed Black Ridge Mining has announced the appointment of David Tuit as an independent consultant to assist with the assessment of the c ...
Monday, 08 February 10
SOUTH AFRICAN EXPORT COAL RISES FOR FIRST TIME IN FOUR WEEKS
Prices for coal shipped from South Africa’s Richards Bay, the continent’s biggest export facility for the fuel, posted their first gain ...
Monday, 08 February 10
NTPC HOPES TO START ON 500-MW PROJECT IN SRI LANKA BY FEB-END
NTPC sources told Business Standard, “All formalities from our government and NTPC have been completed.
The opinion of the Sri Lankan atto ...
Sunday, 07 February 10
AN AUSTRALIAN FIRM HAS SIGNED A $60BN DEAL TO SUPPLY COAL TO CHINESE POWER STATIONS
Clive Palmer, chairman of the company, Resourcehouse, said it was Australia's "biggest ever export contract".
Under the deal, the firm ...
Saturday, 06 February 10
FREIGHT WOULD CONTINUE TO BE SOFT NEXT WEEK - VISTAAR SHIPPING
COALspot.com (Singapore): The freight market continued to soften this week including the stock markets. The main reason seems to be Chinese ne ...
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- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Planning Commission, India
- Australian Coal Association
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
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