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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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Monday, 20 June 11
KPCL SETS ALL INDIA & POSSIBLY A WORLD RECORD FOR COAL DISCHARGING
COALspot.com - Krishnapatnam Port has set an all India record for discharging 95,528 tons of steam coal in just 24 hrs using the conventional unload ...
Monday, 20 June 11
5TH ASIA PACIFIC COAL TRADING & INVESTMENT OUTLOOK 2011 IS ON THE WAY
Press Release - Since the beginning of 2011, international commodity price has been in a high level, resulting in “TENSION” of energy co ...
Sunday, 19 June 11
S6 AND S7 ROUTES LIKELY TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - The freight market seemed to be stabilizing and the BDI and Cape index was up marginally and closed at 1,423 points and 1,824 points ...
Sunday, 19 June 11
BUMI 1Q NET PROFIT INCREASES 16.5 PERCENT
PT Bumi Resources Tbk (BUMI), Indonesia's largest coal exporter that is 25% owned by London-listed Vallar Plc, reported a16.49% increase in net pro ...
Friday, 17 June 11
DRY BULK BREATHES SIGH OF RELEAF ON RENEWED CAPESIZE DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has caught a sign of relief from the middle of the week onwards, as the BDI (Baltic Dry Index) increased once again yesterday, t ...
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- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
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- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
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- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
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- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Minerals Council of Australia
- Economic Council, Georgia
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Planning Commission, India
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
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