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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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Wednesday, 06 January 10
BUMI SHARES UP AS OVERALL PERFORMANCE BEATS PREDICTIONS
The world’s largest thermal coal exporter PT Bumi Resources saw its shares jump 10 percent to Rp 2,675 ($29 US cents) on Tuesday after the com ...
Wednesday, 06 January 10
INDIA MAY HAVE BECOME TOP BUYER OF SOUTH AFRICAN COAL
India may have overtaken Europe for the first time as the biggest purchaser of South African coal in 2009, according to Raymond Chirwa, Richards Bay ...
Wednesday, 06 January 10
COAL PEAK RECEDES INTO THE FAR DISTANCE
COALspot.com (German): Coal will be available to mankind as an energy source for the next 120 years.
The German Coal Importer Association has ca ...
Tuesday, 05 January 10
SUPRAMAX MARKET REMAINED QUIET OVER THE LAST 10 DAYS BRS - DRY BULK
Despite a damp end to the year for bulk rates, shipping has weathered the storm far better than was initially expected in the wake of the financ ...
Tuesday, 05 January 10
WINTER WEATHER SPIKES COAL PRICES - CHINA UPDATE
Cold weather is driving coal prices higher and will lend the advantage in annual negotiations to suppliers, analysts said, predicting that the risin ...
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- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Australian Coal Association
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Planning Commission, India
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
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