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.
|
|
Friday, 27 February 09
WIKA TO ACQUIRE MINING COMPANY
The Jakarta Post reported that, Public listed state construction firm PT Wijaya Karya (Wika) is to acquire a mining contracting firm in the first se ...
Friday, 27 February 09
COASTAL ENERGEN INKS PACT WITH CHINESE FIRM FOR POWER EQUIPMENT
My Digital Fc reported that, Dubai-based Coal and Oil Group, which is setting up a 1,200MW thermal power plant in Tamil Nadu, has tied-up with China ...
Thursday, 26 February 09
GMR INFRA COMPLETES INDONESIAN BUY
Blonnet reported that, GMR Infrastructure Ltd today confirmed the acquisition of an Indonesian coal mining company for a consideration of $80 millio ...
Wednesday, 25 February 09
INDONESIAN GOVERNMENT TO REGULATE MINIMUM COAL SELLING PRICES
The Jakarta Post reported that, To complement the recent enactment of the new mining law, the government is preparing to introduce a coal pricing in ...
Thursday, 19 February 09
GEOTHERMAL ENERGY DOMINATES 10.000 MW POWER PROJECT - ESDM
The role of coal as a source of energy is superseded by geothermal energy to power the second phase of the 10.000 megawatt (MW) power plant project. ...
|
|
|
Showing 6861 to 6865 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
|
| |
| |
|
