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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, 21 January 10
HANDYMAX - SHORT PERIOD OWNERS IDEAS ARE AROUND MID/LOW 20S - FEARNLEYS AS
HANDY
The BSI moved in a downward direction since last Friday reflecting minor a ...
Thursday, 21 January 10
ASF GROUP TO COMMENCE COAL SALES TO CHINA BY FEBRUARY 2010
Sydney-based China energy and resource conduit, ASF Group has struck an agreement to supply coal to China.
In September 2009, ASF announced a ven ...
Thursday, 21 January 10
INDONESIA BUKIT ASAM AGREES ON LOWER COAL PRICE
Indonesian state coal miner PT Tambang Batubara Bukit Asam Tbk has agreed with a local power plant to set 2010 coal prices at 23 percent lower than ...
Thursday, 21 January 10
CABOTAGE POLICY POSTPONED
The Transportation Ministry has decided to postpone for one year the full enforcement of the cabotage principle – a maritime term for the proh ...
Thursday, 21 January 10
MEC IN TALKS WITH TATA POWER ON COAL - TRADE
The UAE's Middle East Coal is in talks to supply coal to Tata Power, India's biggest private sector power firm, from its new Indonesian operations ...
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- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Economic Council, Georgia
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- White Energy Company Limited
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Planning Commission, India
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- The University of Queensland
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
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