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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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Thursday, 10 June 10
R-POWER, INDONESIA'S SUGICO INK PACT TO ACQUIRE COAL MINES - ECONOMIC TIMES
Economic Times of India reported that, Anil Ambani-owned Reliance Power has signed a share-sale agreement with Indonesia’s Sugico Group to acq ...
Thursday, 10 June 10
PARAMOUNT MINING CORPORATION REPORTS KEY INDONESIAN JV AGREEMENT
Indonesia focussed Paramount Mining Corporation has reported that its Indonesian subsidiary, PT Paramindo, has concluded a Joint Venture Agreem ...
Wednesday, 09 June 10
INDIA, CHINA TO PROP UP THERMAL COAL DEMAND - COMMODITY ONLINE
Commodity Online : Weakness in thermal coal demand in OECD will continue to be offset by growth in demand in India and China. Therefore, the s ...
Tuesday, 08 June 10
TATA POWER LOOKING TO PICK UP STAKE IN OVERSEAS COAL MINES - ECONOMIC TIMES
Economic Times reported that, Tata Power is looking for a strategic stake purchase in coal mines of Indonesia or South Africa to fuel its upcoming 1 ...
Tuesday, 08 June 10
RUSSIA REPORTED A TENFOLD GROWTH IN COAL EXPORTS TO CHINA IN 1Q 2010 - BRS
A retreat for all the dry bulk segments this week, but especially for the Panamax and Supramax markets. The Panamax 4TC remains over US$30,000/day h ...
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- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Planning Commission, India
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Australian Coal Association
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- White Energy Company Limited
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
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