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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 $7.4 billion, or eight per cent in government take over the first five years of the tax, Wood Mackenzie head of coal supply research Gero Farruggio said.
Mr Farruggio said coal miners were already battling strong cost inflation and falling productivity.
"Traditionally Australia is viewed as a low-cost exporter, but in our 2010 global thermal coal export cash cost (of production) rankings it is well down the table in sixth place," he said.
"Indonesia dominates the ranking tables with the largest thermal coal production and lowest average cash cost.
"In contrast to Australia, it (Indonesia) has moved to reduce the level of government take from coal production."
Source: Nine Msn / Hellenic Shipping
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Monday, 28 June 10
MEC TO INK COAL-EQUITY SWAP DEALS WITH POWER PROJECTS
Business Line reported that, First it was power producers moving to pick up stakes in coal mining projects to ensure the raw material supplies.
N ...
Monday, 28 June 10
COLOMBIA WILL LIKELY EXPORT 80 MILLION TONNES OF COAL IN 2010
Best Colombia reported that, Mr Hernan Martinez energy and mines minister of Colombia told reporters that Colombia will likely export 80 million ton ...
Monday, 28 June 10
WESFARMERS' SEPT QTR COAL PRICE UP 11% - SMH
SMH reported that, Wesfarmers Ltd says it expects a 11 per cent increase in prices for metallurgical coal from its Curragh mine in Queensland in the ...
Saturday, 26 June 10
THE SUPRAMAX INDEX FOR S6 ROUTE WAS UP BY US$ 1091 PER DAY OR 5.7 PERCENT D-O-D -- VISTAAR
COALspot.com: The market appears to be steadying with all indices almost stabilizing and the drop much less than last two weeks.
The BDI softened ...
Saturday, 26 June 10
MONGOLIA COAL RAILWAY TO LINK WITH RUSSIA - BUSINESS WEEK
Business Week reported that, Mongolian lawmakers have approved plans for a rail line linking with Russia to help tap large coal deposits in the sout ...
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- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- The University of Queensland
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Australian Coal Association
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- PTC India Limited - India
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Planning Commission, India
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
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