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Thursday, 29 July 10
GOVT TOO OPTIMISTIC ON IRON, COAL PRICE
 Federal government forecasts of continued strength in iron ore and coal prices, which underpin revenue expectations for the proposed new mining tax, are too optimistic, analysts say The forecasts underpin the government's expectation of $10.5 billion in revenue from the proposed Mineral Resources Rent Tax over the first two years of its implementation from 2012/13.
Gavin Wendt, senior resources analyst for research firm Mine Life Pty Ltd, said the outlook for thermal coal prices was positive but there was a potential for iron ore prices to fall.
Mr Wendt said government forecasts of decades of iron ore and coal sector growth were "wildly optimistic".
"That's the problem with the tax."
While demand continued to grow for thermal coal, which is used in power generation and is in short supply, the coking coal price was tied to the iron ore price due to its role in steelmaking.
Mr Wendt said demand for iron ore was still very strong but supply was starting to catch up as existing mines expanded and new mines opened to take advantage of several years of high prices.
"I'm still very bullish on demand for iron ore ... which will remain strong because steel production will remain strong," he said.
"But there's no shortage of iron ore.
"It's just a matter of how quickly operations get developed.
"Pricing is probably close to its peak, which means we're slowly starting to see the price tail off.
"The bottom is not going to fall out of the iron ore market but the government is being optimistic when it suits them."
Research and consulting firm Wood Mackenzie says the government won't get any additional revenue from coal if prices fall to levels seen just a few years ago.
The government is expected to fund a one per cent reduction in the corporate tax rate with revenue from the new mining tax, reported by
If coal prices remain strong, coal miners will pay an additional $7.4 billion, or eight per cent in government take over the first five years of the tax, Wood Mackenzie head of coal supply research Gero Farruggio said.
Mr Farruggio said coal miners were already battling strong cost inflation and falling productivity.
"Traditionally Australia is viewed as a low-cost exporter, but in our 2010 global thermal coal export cash cost (of production) rankings it is well down the table in sixth place," he said.
"Indonesia dominates the ranking tables with the largest thermal coal production and lowest average cash cost.
"In contrast to Australia, it (Indonesia) has moved to reduce the level of government take from coal production."
Source: Nine Msn / Hellenic Shipping
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Wednesday, 11 August 10
CAPESIZE MARKET ON RECOVERY MODE
The dry bulk market, usually dormant in August, has returned on a high note this week, after last week’s gains. Monday proved to be rather buo ...
Wednesday, 11 August 10
BANPU SECURES TAKEOVER LOAN - BANGKOK POST
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, has secured loans worth US$2 billion from Thai and foreign banks to proceed with ...
Tuesday, 10 August 10
KOREA'S EWP TO BUY 4 MILLION TON OF 3700 AND 4600 NAR COAL AT FIXED PRICE
COALspot.com: Korean utility East-West Power out with the tender to buy 0.670 million tons with a minimum calorific value of 4600 NAR and 0.350 mill ...
Tuesday, 10 August 10
COAL CONSTRAINS CORE SECTOR GROWTH IN JUNE 2010
Growth in the six key infrastructure sectors decelerated for the third month in June. This is primarily due to last year’s high base effect. D ...
Sunday, 08 August 10
SOUTH AFRICA INCREASES COAL EXPORTS TO INDIA BY 74% IN JULY, TRADER SAYS
South Africa’s Richards Bay, the continent’s largest coal terminal, increased sales to India by 74 percent in July from June, according ...
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- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Bhatia International Limited - India
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
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