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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, 06 July 10
SHENHUA GROUPS 2013 PROFIT MAY EXCEED $15 BILLION - BUSINESS WEEK
Business Week reported that, Shenhua Group Corp., China’s biggest coal producer, expects profit to exceed 100 billion yuan ($15 billion) by 20 ...
Saturday, 03 July 10
THE FREIGHT MARKET CONTINUES TO BE UNCERTAIN - CAPT. REDDY
COALspot.com: The market continues to soften and the most affect sector was Panamax which was down by almost 20 pct and closed at 2447 points. The C ...
Friday, 02 July 10
SARDA ENERGY TO ACQUIRE COAL MINES IN INDONESIA
India Info Line reported that, Sarda Energy & Minerals Ltd has announced that the authorities in Indonesia have granted the Environment Cle ...
Friday, 02 July 10
DRY BULK MARKET ON A FREEFALL, REACHING ITS LOWEST IN 9 MONTHS
The Baltic Dry Index is off to break more negative records this week, as the dry bulk shipping industry’s main benchmark has failed to find ro ...
Friday, 02 July 10
PROPOSED MINERAL RESOURCE RENT TAX - PRESS RELEASE (2)
Press Release: BHP Billiton, Rio Tinto and Xstrata said today that they are encouraged by the Federal Government’s announcement that it propos ...
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- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- The University of Queensland
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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