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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 $7.4 billion, or eight per cent in government take over the first five years of the tax, Wood Mackenzie head of coal supply research Gero Farruggio said.
Mr Farruggio said coal miners were already battling strong cost inflation and falling productivity.
"Traditionally Australia is viewed as a low-cost exporter, but in our 2010 global thermal coal export cash cost (of production) rankings it is well down the table in sixth place," he said.
"Indonesia dominates the ranking tables with the largest thermal coal production and lowest average cash cost.
"In contrast to Australia, it (Indonesia) has moved to reduce the level of government take from coal production."
Source: Nine Msn / Hellenic Shipping
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Tuesday, 25 May 10
BUMPER YEAR PREDICTED FOR INDONESIAN COAL - THE JAKARTA GLOBE
The Jakarta globe reported that, In The country’s coal output may reach 320 million tons this year, up from 300 million tons in 2009, as produ ...
Tuesday, 25 May 10
CHINA'S COAL SHIPMENTS VIA ITS MAIN PORTS RISE BY 13.1 PERCENT IN APRIL
According to the data issued by China's Ministry of Industry and Information on May 21, in April total coal shipments via China's main ports reach ...
Monday, 24 May 10
SAMTAN TO SELL KIDECO TO INDIKA ENERGY?
Insider Stories reported that, Parent company of Indonesia's coal mining contractor PT Petrosea Tbk (PTRO), PT Indika Energy Tbk (INDY) aims to boo ...
Monday, 24 May 10
INDIA'S ESSAR SHIPPING BEGIN COMMERCIAL OPERATIONS OF BULK TERMINAL AT HAZIRA
COALspot.com: Essar Shipping Ports & Logistics Ltd. commences commercial operations of Essar Bulk Terminal at Hazira, one of India's largest dr ...
Monday, 24 May 10
INDONESIAN COAL PRICE REFERENCE (HBA) FOR MAY 2010 REACHES US$ 92.07 PER TON FOB VESSEL
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has released Indonesian coal price reference (HBA) for Month of M ...
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- London Commodity Brokers - England
- Eastern Energy - Thailand
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Latin American Coal - Colombia
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Planning Commission, India
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Australian Coal Association
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
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