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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 $7.4 billion, or eight per cent in government take over the first five years of the tax, Wood Mackenzie head of coal supply research Gero Farruggio said.
Mr Farruggio said coal miners were already battling strong cost inflation and falling productivity.
"Traditionally Australia is viewed as a low-cost exporter, but in our 2010 global thermal coal export cash cost (of production) rankings it is well down the table in sixth place," he said.
"Indonesia dominates the ranking tables with the largest thermal coal production and lowest average cash cost.
"In contrast to Australia, it (Indonesia) has moved to reduce the level of government take from coal production."
Source: Nine Msn / Hellenic Shipping
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Friday, 28 May 10
INDIAS NEYVELI LIGNITE EYEING INDONESIA, SOUTH AFRICA COAL MINES
Integrated mining and power producer Neyveli Lignite Corporation Thursday said it is exploring possibilities for buying coal mines in Indonesia and ...
Friday, 28 May 10
ADARO ACQUIRES 25% ICP AT US$ 335 MIO
Indonesia's second largest thermal coal miner PT Adaro Energy Tbk (ADRO) today announces formation of new joint venture for Indonesian Coal Project ...
Thursday, 27 May 10
KPCL IS LOOKING FOR 0.50 MLN TON TO IMPORTED STEAMING COAL FOR RAICHUR THERMAL POWER STATION
COALspot.com: KARNATAKA POWER CORPORATION LIMITED, India invited from reputed parties meeting the pre qualifications stipulated for the import ...
Thursday, 27 May 10
TNPL TO BUY 0.240 MLN TON NON-COKING COAL FOR SECOND HALF OF 2010
COALspot.com: Tamil Nadu Newsprint and Papers Limited (TNPL), would like to procure 0.24 mln MT of imported Non-Coking Coal in 6 Shipments of about ...
Thursday, 27 May 10
DRY BULK RATES REACH 2010 HIGHS, BUT FUTURE REMAINS UNCERTAIN
This week is proving to be a milestone for the dry bulk market, as the Baltic Dry Index has propelled itself at never before seen levels for 2010. Y ...
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- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Planning Commission, India
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
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