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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, 03 December 09
PROLONGED COAL MARGIN SQUEEZE AHEAD - WESCOAL
Mining Weekly reported that, Coal junior Wescoal foresees a continued margin squeeze ahead. The JSE AltX-listed company's gross margin was reduced ...
Tuesday, 01 December 09
COAL DEMAND REBOUNDING FROM DOWNTURN - U.S. MINING EXECS
The coal industry is slowly rebounding from last year's recession with demand and prices inching upward, although inventories at U.S. power ...
Tuesday, 01 December 09
INDONESIA COAL OUTPUT SEEN LIFTED BY CHINA, INDIA
Reuters reported that, Indonesia's coal output is expected to grow by as much as 12 percent in 2010, boosted by demand from power hungry China and ...
Monday, 30 November 09
NTPC SCOUTS FOR MORE COAL BLOCKS IN INDONESIA
State-run National Thermal Power Corporation (NTPC) today said it has identified three more coal blocks in Indonesia for acquisition.
"We ha ...
Monday, 30 November 09
THE FUTURES FOR THREE YEARS (2010-2012) WAS SOFT COMPARED TO LAST WEEK - VISTAAR SINGAPORE
COALspot.com (Singapore): BDI continued to drop this week and touched below 4,000 mark level. The drop in BDI was almost 12 pct and closed at 3,975 ...
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- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Parliament of New Zealand
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Indika Energy - Indonesia
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