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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, 21 June 23
CHINA'S MAY COAL IMPORTS FROM AUSTRALIA RECOVER TO PRE-BAN LEVELS - REUTERS
Australian coal sales to China increased in May, as trade resumed between them even as overall coal demand weakened against an uncertain macroecono ...
Monday, 19 June 23
DROUGHT-DEPLETED HYDROPOWER DRIVES CHINA TO TURN TO COAL - REUTERS
China has leant hard on coal-fired power plants as well as wind and solar generators to make up for a shortfall in hydroelectric generation as a re ...
Monday, 19 June 23
CHINA COAL OUTPUT UP 4.2 PCT IN MAY - XINHUA
China’s raw coal output posted steady growth in May, official data showed.
The country produced 390 million tonnes of raw coal ...
Wednesday, 24 May 23
AMMONIA-FUELLED BULK CARRIERS WITHIN FIVE YEARS - BALTIC EXCHANGE
Within five years, ships powered by clean ammonia could be a feature on the iron ore trade routes between West Australia and East Asia.
A study ...
Tuesday, 23 May 23
CHINA'S APRIL COAL OUTPUT LEAPS 11% ON YEAR, BUT DEMAND DOWNTURN LOOMS - REUTERS
China’s daily coal output in April jumped 11% from the same month a year earlier, boosted by Beijing’s order to increase supply to ensu ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- CNBM International Corporation - China
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
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