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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 $7.4 billion, or eight per cent in government take over the first five years of the tax, Wood Mackenzie head of coal supply research Gero Farruggio said.
Mr Farruggio said coal miners were already battling strong cost inflation and falling productivity.
"Traditionally Australia is viewed as a low-cost exporter, but in our 2010 global thermal coal export cash cost (of production) rankings it is well down the table in sixth place," he said.
"Indonesia dominates the ranking tables with the largest thermal coal production and lowest average cash cost.
"In contrast to Australia, it (Indonesia) has moved to reduce the level of government take from coal production."
Source: Nine Msn / Hellenic Shipping
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Tuesday, 27 July 10
DRY BULK SPOT CARGO DEMAND SHARPLY UP, TRIGGERING RISE IN RATES
Hot on the heels of the dry bulk market’s first weekly gain in almost two months, Monday began on a similar note, with the Baltic Dry Index (B ...
Tuesday, 27 July 10
KANGAROO RESOURCES INKS 297MT COAL RESOURCE FOR TANUR JAYA PROJECT
Kangaroo Resources has reported JORC Code compliant open cut Coal Resources totalling 297 million tonnes for the Tanur Jaya Coal Project in East Kal ...
Monday, 26 July 10
INDONESIAN COAL PRICE REFERENCE FOR JULY 2010 IS US$ 96.65 PER TON FOB VESSEL
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Monday, 26 July 10
BHATIA INTERNATIONAL, MIGHT GRAB THE MAJORITY OF COAL SUPPLY ORDER FROM MAHAGENCO
COALspot.com: Maharashtra State Power Generation Co., a provider of electricity to India’s commercial hub Mumbai, has received price bids from ...
Monday, 26 July 10
CEMENT MAKERS EXPLORE NEW FUELS TO REPLACE COAL - ECONOMIC TIMES
Economic Times reported that, As the cement industry reels under high raw material costs and reduced coal linkages, companies are exploring alternat ...
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- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Australian Coal Association
- GMR Energy Limited - India
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- The University of Queensland
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
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