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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 $26.67 billion last year, making up 17 percent of total exports.
Priyo said his association would ask the government to review the value-added law and recommend that the plan be implemented in phases while miners upgraded their downstream capability.
“The domestic demand for minerals is too small to absorb the potential excess of commodities,” he said. “If this regulation is enforced, big companies like Newmont, Aneka Tambang and Inco will be the ones affected the most.”
Gold miner Newmont Nusa Tenggara, a local unit of the giant US firm, said complying with the value-added law could prove to be problematic.
“We understand the spirit of the law, but our studies have shown that building a smelter is not economically feasible,” Kasan Mulyono, NNT’s spokesman, told the Jakarta Globe on Monday.
“Currently, there is a global shortage on smelter supplies as many smelters are operating under their capacity.”
Bambang Gatot Ariyono, the director of mining development at the Energy Ministry, was unavailable for comment.
Source: The Jakarta Globe (By:Faisal Maliki Baskoro)
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Wednesday, 15 June 11
DRY BULK MARKET WEAKENS AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite this time of year traditionally being one of the busiest for the dry bulk market, it seems that in the post-crisis era trade patterns are co ...
Monday, 13 June 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 1.2 PERCENT IN JUNE
COALspot.com - The Ministry of Energy & Mineral Resources sets coal spot price benchmark for June 2011 at US$ 119.03 per ton, higher than US$ 1. ...
Sunday, 12 June 11
THE FREIGHT MARKET IS LIKELY TO BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com - The freight market continued to soften this week except for Panamax index. The BDI was down by about 4.77 pct and closed at 1,418 poi ...
Friday, 10 June 11
DRY BULK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
This week has offered dry bulk ship owners no real reason to smile, as the industry’s benchmarket, the Baltic Dry Index (BDI) has been steadil ...
Friday, 10 June 11
BUKIT ASAM RECORDED RP1.3 TRILLION PROFIT IN MAY - TEMPO INTERACTIVE
Tempo Interactive reported that, PT PT Tambang Batubara Bukit Asam Tbk (PTBA) made a net profit of Rp 1.3 trillion (approx. US$ 152,779,410) at the ...
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- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
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