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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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Tuesday, 14 November 23
CHINA'S BELT AND ROAD INITIATIVE TURNS AWAY FROM COAL - WOOD MACKENZIE
Ambitious, contentious and big spending, China’s Belt and Road Initiative (BRI) is 10 years old. In that time, China has splashed more than U ...
Friday, 10 November 23
THE COMMODITIES FEED: OIL UNDER PRESSURE - ING
Energy – Brent plummets
The oil market came under significant pressure yesterday. ICE Brent settled 4.19% lower on the day and ...
Friday, 10 November 23
COAL USE AT U.S. POWER PLANTS CONTINUES DOWNWARD SPIRAL; FULL IMPACT ON MINES TO BE FELT IN 2024 - IEEFA
This year, the use of coal by the U.S.’s power producers has been so anemic that the fuel has not achieved a 20% market share in any month so ...
Friday, 10 November 23
INDIA: NATIONAL COAL INDEX RISES 3.83 POINTS IN SEPTEMBER AMID HIGHER DEMAND - LIVEMINT
The National Coal Index (NCI) rose 3.83 points to 143.91 in September amid growing demand for coal.
The union coal ministry on Tuesd ...
Thursday, 09 November 23
WE'RE PRODUCING TOO MUCH COAL, OIL AND GAS, REPORT SAYS - WSJ
World leaders pledged in 2015 to reduce emissions in a combined effort to limit climate change.
Now they are stepping up production ...
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- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Minerals Council of Australia
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- MS Steel International - UAE
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Bhatia International Limited - India
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