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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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Sunday, 11 July 10
OVERALL NO OR NEGLIGIBLE IMPACT IN ARUTMIN MINE - BUMI
COALspot.com: Bumi denies the media reports on an impact of unusually rains on coal production in BUMI mines.
"Arutmin is being impacted by ...
Saturday, 10 July 10
FREIGHT MARKET SITUATION MAY CONTINUE FOR NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com: The market continued to soften further with the cape and panamax index down by about 20 pct and closed at 2,102 and 1,944 points respe ...
Saturday, 10 July 10
STC OF INDIA TO ASSOCIATE WITH FUEL SUPPLIERS
COALspot.com: State Trading corporation of India, which is under Ministry of Commerce, has invited Expression of Interest from coal suppliers ...
Saturday, 10 July 10
SCOMI TO SELL STAKE IN INDONESIA OPS - THE STAR
The star online reported that, Scomi Marine Bhd will sell a stake in its marine logistics business in Indonesia to a large Indonesian company to dea ...
Thursday, 08 July 10
KPCL RECEIVES 8 QUALIFIED BIDS TO SUPPLY 500,000 MT OF COAL
COALspot.com: Indian state utility KARNATAKA POWER CORPORATION LIMITED has opened price bid yesterday.
According to a participant, the quo ...
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- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Parliament of New Zealand
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- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
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- SN Aboitiz Power Inc, Philippines
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- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
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- London Commodity Brokers - England
- Meralco Power Generation, Philippines
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- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
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- Mercator Lines Limited - India
- Heidelberg Cement - Germany
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- Iligan Light & Power Inc, Philippines
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- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
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- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
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- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
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- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Planning Commission, India
- Xindia Steels Limited - India
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
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- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
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- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- GMR Energy Limited - India
- Australian Coal Association
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
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- Global Business Power Corporation, Philippines
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- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
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