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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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Friday, 16 July 10
CHINA EXPORTS 10.14 MILLION TONNES OF COAL IN H1 OF 2010
China exported 10.14 million tonnes of coal in the first half of this year, down 13.1% compared with the corresponding period of last year, accordin ...
Thursday, 15 July 10
SMC TO PURSUE MINDANAO COAL MINING PROJECTS
Philippine Daily Inquirer reported that, DIVERSIFYING CONGLOMERATE San Miguel Corp. is inclined to pursue its coal mining projects in Mindanao ...
Thursday, 15 July 10
ADANI ENTERPRISES WILL BUY $1 BILLION COAL MINE FROM LINC ENERGY - TOP NEWS
Top News reported that, Adani Enterprises has almost managed to obtain a coal mine from Linc Energy for $1 billion in Queensland, Australia. This mi ...
Thursday, 15 July 10
ADANI TO DEVELOP COAL EXPORT TERMINAL IN AUSTRALIA - BUSINESS STANDARD
Business-Standard reported that, The Adani Group, promoter of Mundra Port and Special Economic Zone (MPSEZ), today said it has been selected as the ...
Thursday, 15 July 10
NO IMPROVEMENT IN THE DRY BULK MARKET - INTERMODAL
Broker’s insight
With the Baltic Dry Index today (13/7/2010) standing at 1,790 points - the lowest point since early May 2009 - ...
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- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- The University of Queensland
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Planning Commission, India
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
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