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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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Saturday, 24 July 10
INDONESIAS BUKIT ASAM H1 2010, SALES RAISED 10% TO 6.44 MILLION TONS
COALspot.com: PT Tambang Batubara Bukit Asam (PTBA), Indonesian state owned mining company’s H1 2010, sales raised 10% to 6.44 million tons. T ...
Saturday, 24 July 10
INDONESIAN COAL MINERS ARE REQUIRED TO SUPPLY 64.96 MLN TONS OF COAL TO DOMESTIC MARKET IN 2010
COALspot.com : Minister of Energy and Mineral Resources of Indonesia has issued a ministerial degree related to Domestic market obligation (DMO) for ...
Saturday, 24 July 10
THE BDI SEEMS TO BE RECOVERING AND WAS UP BY ABOUT 6 PCT - CAPT. REDDY
COALspot.com: "The BDI seems to be recovering and was up by about 6 pct this week after losing for almost last 7 weeks", said Capt. Reddy, ...
Saturday, 24 July 10
ANALYSIS - GROWTH IN VESSEL SUPPLY PRESSURES OCEAN FREIGHT RATES
It's common to use global shipping rate trends as a proxy of global economic health. If demand for goods and raw materials are strong, so should it ...
Friday, 23 July 10
KOWEPO TO IMPORT ADDITIONAL 1.2 MILLION TONS OF INDONESIAN COAL WITHIN 5 MONTHS
Korea Western Power Company Limited has finalized around 1.2 million tonnes of Indonesian origin of coal last week. According to K ...
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- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- Planning Commission, India
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Parliament of New Zealand
- PTC India Limited - India
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