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, 13 February 09
INDONESIA IS EXPECTED TO PRODUCE 225 MILLION TONES OF COAL IN 2009 - ENERGY MINISTRY
Indonesia, the world's top thermal coal exporter, will allocate 68.3 million tonnes of coal out of expected forecast production of 225 million ton ...
Friday, 06 February 09
INDONESIA'S COAL PORTS HAVE FORCED A RETHINK ON 'TRADITIONAL' HANDLING OPTIONS
Port Strategy reported that, Indonesia’s main coal-producing islands of Kalimantan, Sulawesi and Sumatra suffer from a scarcity of suitable la ...
Thursday, 22 January 09
MINISTER: MINING LAW PROHIBITS RAW MATERIAL EXPORT - ESDM
The Coal and Mining Law, approved during the House of Representatives plenary meeting on December 16, 2008 seeks to domestically increase mining com ...
Wednesday, 07 January 09
SOUTH KALIMANTAN COAL PRODUCTION EXPECTED TO INCREASE - ESDM
Coal production from the South Kalimantan region has the potential to increase in the next few years. Aside from the vast proven reserves of coal, s ...
Tuesday, 30 November 99
GLENCORE EXPECTS 2023 TRADING UNIT PROFITS OF UP TO $4 BLN - REUTERS
Glencore GLEN.L on Friday said it expects profits at its trading division this year of up to $4 billion, exceeding its long-term annual guidance.
...
|
|
|
Showing 6866 to 6870 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Australian Coal Association
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Planning Commission, India
- White Energy Company Limited
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
|
| |
| |
|
