We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Friday, 08 May 09
B.C.'S MINING INDUSTRY HIGH COAL PRICES TO RECORD 2008 PROFITS - PAGUNTAKA
AGGREGATE pre-tax earnings rose to $3.2 billion, the highest amount in the 41-year history of a PricewaterhouseCoppers survey.
B.C.’s mining industry posted record profits in 2008 — primarily on the strength of coal — but 2009 is not shaping up as well, according to a report released Tuesday.
“It was a fantastic year in 2008,” the report’s co-author Michael Cinnamond said in an interview. “But 2009 won’t be as great. At the end of ‘08 and in early ‘09, prices have come off. So, the level of exploration is starting to fall.”
The report by PricewaterhouseCoopers (PwC), called The Mining Industry in British Columbia - 2008, showed that aggregate pre-tax net earnings for the industry rose by 88 per cent to $3.2 billion, the highest amount in the 41-year history of PwC’s annual survey.
According to a news release, returns on shareholders’ investments reached an unprecedented 98 per cent, up from 46 per cent the previous year.
Cinnamond, a partner in PwC’s mining practice, called the performance amidst the economic downturn “nothing short of outstanding.” He said the 2008 results were mainly driven by increased coal prices that were up 225 per cent to $261 US/tonne over the previous year, with coal representing 86 per cent of total product shipments in 2008. “B.C. is very coal-rich.”
However, he said, prices in April were in the $125 US/tonne range, “a significant reduction from prices realized in 2008, but still high compared to historical averages.”
He said coal will still have a strong performance in 2009, “but not as dramatic as ‘08.”
According to the report, copper concentrates were the second largest contributor of mining revenues in 2008, but were down by 29 per cent to $1.19 billion from $1.66 billion the previous year. The 2008 copper price averaged $3.16 US/lb, but dropped to an average of $1.56/lb in the first quarter of 2009, reflecting weak global demand.
As well, zinc and zinc concentrates contributed net mining revenues of $736 million in 2008, down 40 per cent from $1.2 billion in 2007. Rising gold prices led to a 13-per-cent increase in gold revenues to $231 million in 2008, up from $205 million in 2007. Gold prices continued to strengthen in the first quarter of 2009, averaging $908.71/oz. Silver prices also rose in 2008, pushing revenues from silver up by 10 per cent to $272 million over the year before, the release stated.
Total net mining revenue from molybdenum increased nine per cent to $472 million from $433 million in 2007, while the price dropped five per cent to an average of $28.42/lb. Molybdenum, which is used as a strengthening material in the steel industry, saw a significant price decrease in the last quarter of 2008 and prices remain low in the first quarter of 2009.
Erfan Kazemi, a manager in PwC’s B.C. mining practice, and co-author of the report, also said in a statement that the mining industry contributed $6.1 billion in expenditures to the provincial economy.
Cinnamond said the drop in zinc and copper prices since last year is contributing to a mix of uncertainty and cautious optimism in industry. He said PwC polled 33 CEOs of B.C.-based mining companies in April 2009 and learned that 27 per cent are conserving cash, 39 per cent have implemented spending cuts and 12 per cent are just hanging on. He said about 15 per cent of the respondents reported they are actively seeking acquisitions and looking to grow.
Other key findings of the survey included: total metals and coal shipments from B.C. mines increased by eight per cent to 26,840,000 tonnes in 2008; capital expenditures were $853 million in 2008, a decrease from $964 million in 2007; total exploration expenditure in B.C., estimated at $416 million in 2007, decreased to $367 million in 2008; and the mining industry made total payments to the government of $545 million.
Source: http://paguntaka.org/2009/05/07/bcs-mining-industry-high-coal-prices-to-record-2008-profits/
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Wednesday, 20 May 09
COAL & OIL BAGS TWO CONTRACTS TO SUPPLY COAL TO CEMENT & SUGAR INDUSTRY IN INDIA
COALspot.com: According to website of Coal & Oil Company, Aditya Birla Group (Ultratech) have placed orders with Coal and Oil Company for supply ...
Wednesday, 20 May 09
CIL MAY URGE NEW GOVERNMENT TO HIKE COAL PRICE - STEELGURU
BL reported that soon after assuming office the new government may be faced with a proposal for an increase in prices of coal by Coal India Limited ...
Wednesday, 20 May 09
S.KOREA COAL IMPORTS IN APRIL DOWN 22 PCT Y/Y - REUTERS
South Korea's imports of heating coal in April fell 22 percent from a year earlier on bearish demand from domestic utilities, industry data showed ...
Wednesday, 20 May 09
THE WORLD'S TOP COAL TRADING COMPANIES - REUTERS
The international physical steam coal market has become increasingly liquid and tradeable during the past five years.
Physical global seaborne co ...
Wednesday, 20 May 09
SHIPPING INDEX RISES TO 7-MONTH HIGH AS CHINESE DEMAND ADVANCES - BLOOMBERG
The Baltic Dry Index, a measure of shipping costs for commodities, rose to a seven-month high in London on accelerating Chinese demand for iron ore. ...
|
|
|
Showing 6746 to 6750 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Minerals Council of Australia
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- VISA Power Limited - India
- Central Java Power - Indonesia
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- PTC India Limited - India
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Tamil Nadu electricity Board
|
| |
| |
|
