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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, 28 December 09
SOMALI PIRATES SAY $4 MILLION RANSOM PAID FOR COAL SHIP
A helicopter dropped a $4 million ransom payment on Sunday on to the deck of a Chinese coal ship hijacked by Somali pirates in mid-October, a pirate ...
Saturday, 26 December 09
COAL INDIA, RIO TINTO MAY HOLD TALKS SOON ON TIE-UP
State owned Coal India Limited (CIL), which is in the race for acquisition of overseas coal properties to plug the demand supply shortfall of the dr ...
Saturday, 26 December 09
COKING COAL PRICES MAY RISE BY 10 - 15% FROM APRIL 2010
The price of coking coal, one of the key raw materials for steel production, is likely to increase by 10-15% in next April, the month in which m ...
Saturday, 26 December 09
COAL INDIA SECURES TWO BLOCKS IN MOZAMBIQUE
It's official now. Mozambique has awarded two coal acreages in its Maotize region with an estimated one billion tonne reserves to Coal India Ltd bu ...
Thursday, 24 December 09
DRY BULK CHARTERING - SHIPPING UPDATE
Handy
Continued firm conditions for the Handymax / Supramax market in the Atlantic despite the BSI´s downward trend. As chrs scramble to cov ...
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- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- PowerSource Philippines DevCo
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Australian Coal Association
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
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