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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, 06 February 10
COAL MINISTRY SEEKS CUT IN IMPORT DUTY
The coal ministry wants the finance ministry to reduce the 5.1% import duty on thermal coal and continue with the existing zero import duty on cokin ...
Friday, 05 February 10
IN 2010, CHINA COAL OUTPUT TO REACH AROUND 3.3BLN T
It is expected that China's coal production in 2010 will reach around 3.3bln tons. It is predicted that in the first quarter of 2010, the tight coa ...
Thursday, 04 February 10
INDIA REMAINS FIRM - FEARNRESEARCH
CHARTERING - DRY BULK
Handy
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Thursday, 04 February 10
INFRASTRUCTURE DEVELOPMENT & INFRASTRUCTURE ASIA 2010
ASIA-PACIFIC MINISTERIAL CONFERENCE ON PUBLIC-PRIVATE PARTNERSHIPS FOR INFRASTRUCTURE DEVELOPMENT & INFRASTRUCTURE ASIA 2010
IPFA TO JOIN INF ...
Thursday, 04 February 10
INDIA`S APPETITE FOR COAL EXPECTED TO RISE SHARPLY
Coal powers more than half of India's electricity plants and demand for the commodity is expected to rise sharply as the third-largest Asian econom ...
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- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Planning Commission, India
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- The University of Queensland
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Minerals Council of Australia
- PowerSource Philippines DevCo
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