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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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Wednesday, 31 January 24
CHINA'S INNER MONGOLIA COAL OUTPUT HIT 1.21B TONS IN 2023 - XINHUA
North China’s Inner Mongolia autonomous region churned out 1.21 billion tons of coal in 2023 as it strives to guarantee the country’s e ...
Wednesday, 31 January 24
GAS EXPORTS COST U.S. CONSUMERS MORE THAN $100 BILLION OVER 16-MONTH PERIOD - IEEFA
Limited Demand Growth Could Dampen the Dry Bulk Market in the Coming Months BIMCOStarting in late 2021—before its invasion of Ukraine—R ...
Tuesday, 30 January 24
LIMITED DEMAND GROWTH COULD DAMPEN THE DRY BULK MARKET IN THE COMING MONTHS - BIMCO
Demand
In our base scenario, we expect cargo demand to grow by 0-1% in 2024 and 0.5-1.5% in 2025. This is a 0.5 percentage point reduction for ...
Friday, 26 January 24
RED SEA DIVERSIONS ADD NEARLY A MILLION DOLLARS PER VOYAGE TO SHIPPING COSTS WHILE DOUBLING TRANSIT TIME - LSEG
The incremental costs of diverting a tanker from Asia to NW Europe via the Cape of Good Hope is accounting for an extra $932,905 USD per voyage whi ...
Friday, 26 January 24
HARD COAL GUARDIAN ANGEL OF THE ENERGY SUPPLY - GERMANY COAL IMPORTERS ASSOCIATION
- No security of supply without hard coal
- The Substitute Power Plant Provision Act (EKBG) must be extended
- Higher grid fees due to the ...
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- Deloitte Consulting - India
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
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