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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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Friday, 23 October 09
AUSTRALIA APPROVES CHINESE TAKEOVER OF FELIX RESOURCES
* Australia give conditional approval to China's Felix deal
* Chinese owner must list the assets on Australian exchange
Reuters reported that, ...
Friday, 23 October 09
IVANHOE TARGETING 20 MILLION TONS OF COAL OUTPUT IN MONGOLIA
Bloomberg reported that, Ivanhoe Mines Ltd., developing a $4 billion copper and gold mine in Mongolia with Rio Tinto Group, is targeting long-term c ...
Friday, 23 October 09
XSTRATA PLANS $1BN AUSTRALIAN COAL PORT
Xstrata Plc, the world's biggest exporter of steam coal, plans to build a new $1 billion coal port in Australia, it said.
The proposed Balaclava ...
Friday, 23 October 09
MEXICO'S CFE SEEKS 6.24 MLN T COAL FOR 2010-12
Reuters reported that, Mexico's state-owned power monopoly plans to award a tender for 6.24 million tonnes of steam coal in December, according to ...
Friday, 23 October 09
CIL PRICE HIKE LIKELY TO PUSH POWER RATES UP
Business-Standard reported that, May squeeze cement companies’ margins, but the steel sector is unlikely to be affected much.
The upward re ...
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- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Planning Commission, India
- CNBM International Corporation - China
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- The University of Queensland
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
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