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Tuesday, 08 March 11
MINERS SAY VALUE-ADDED LAW WILL HURT IN THE LONG RUN - THE JAKARTA GLOBE
.jpg) The Jakarta Globe reported that, Government plans to require miners to give added value to their exported commodities could end up costing the country income, a mining association official said on Monday.
Priyo Pribadi Sumarno, an executive director at the Indonesian Mining Association, said the domestic market for minerals such as tin, gold, copper and nickel was relatively small compared to the export market.
“We support the idea of giving added value to our commodities, but requiring these added values as a requirement for export will be more problematic and it will reduce export revenue,” he said.
A 2009 mining law requires miners to upgrade their mineral commodities, with mineral producers needing to comply by 2014 and coal producers by 2016.
Priyo said the law would require local miners to process their commodities before exporting them. Companies would export ferronickel instead of raw nickel, for example, while copper would be required to have 99 percent metal content and coal at least 5,600 calories.
Exports of tin, Indonesia’s top commodity, would have to be 99.85 percent metal.
To meet that requirement, he said, companies would have to invest more in technology by building or upgrading their smelters. A simple smelter could cost about $50 million, while a more advanced smelter could cost at least $500 million.
“The government’s attempt to boost the downstream mineral sector might cost the miners themselves,” Priyo said. “Also, the basis for these added-value requirements is still unclear and we’re pessimistic that the domestic market can absorb most of these commodities.
“I don’t think the regulation is necessary for coal, which accounts for more than 80 percent of our mineral exports, because coal already has its own domestic market obligation.”
According to data from the Central Statistics Agency (BPS), Indonesia’s mining sector was worth $26.67 billion last year, making up 17 percent of total exports.
Priyo said his association would ask the government to review the value-added law and recommend that the plan be implemented in phases while miners upgraded their downstream capability.
“The domestic demand for minerals is too small to absorb the potential excess of commodities,” he said. “If this regulation is enforced, big companies like Newmont, Aneka Tambang and Inco will be the ones affected the most.”
Gold miner Newmont Nusa Tenggara, a local unit of the giant US firm, said complying with the value-added law could prove to be problematic.
“We understand the spirit of the law, but our studies have shown that building a smelter is not economically feasible,” Kasan Mulyono, NNT’s spokesman, told the Jakarta Globe on Monday.
“Currently, there is a global shortage on smelter supplies as many smelters are operating under their capacity.”
Bambang Gatot Ariyono, the director of mining development at the Energy Ministry, was unavailable for comment.
Source: The Jakarta Globe (By:Faisal Maliki Baskoro)
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Friday, 06 September 24
REBOUND IN OIL DEMAND COULD LIFT MARKET IN LATTER HALF OF 2024 - BIMCO
Supply/demand
Based on a strong second half demand, the supply/balance is forecast to strengthen in 2024 but weaken slightly in 2025 as n ...
Friday, 06 September 24
GLOBAL SEABORNE LNG TRADE HAS CONTINUED TO INCREASE LAST YEAR - BANCHERO COSTA
Global seaborne LNG trade has continued to increase last year, helped also by the events in Ukraine which forced Europe to diversify away from Russ ...
Wednesday, 28 August 24
SEABORNE COAL IMPORTS INTO INDIA INCREASED BY +9.9% Y-O-Y TO 146.6 MLN T - BANCHERO COSTA
Global coal trade has really picked up pace over the past year, and is now fully back to pre-Covid levels said Banchero Costa Research in its lates ...
Tuesday, 06 August 24
EXERCISE CAUTION WITH AMMONIA SWITCH - BALTIC EXCHANGE
A new study from the Massachusetts Institute of Technology (MIT) has thrown a spanner into the plan to transition ships from diesel fuel to ammonia ...
Friday, 02 August 24
ENERGY MARKET DEVELOPMENTS: COAL AND NATURAL GAS PRICES REACH RECORD HIGHS - WORLD BANK
The recent surge in natural gas and coal prices has been so swift that the main benchmarks were roughly three times higher in 2022Q2 compared to a ...
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- Orica Mining Services - Indonesia
- Planning Commission, India
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Central Electricity Authority - India
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- The University of Queensland
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- White Energy Company Limited
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
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