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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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Saturday, 28 May 11
WCI-CHINA RATES SLIDED TO 15K AND FROM ECI AROUND 12K - FEARNLEYS AS
Handy
Rates in the Atlantic remain steady/flat with the Black Sea remaining quiet with little fresh enquiries. The Continent is seeing more tonnag ...
Saturday, 28 May 11
GOLDEN MINES IPO AT RP 2,300 - RP 3,500
Coal miner PT Golden Energy Mines, a wholly owned subsidiary of PT Dian Swastatika Sentosa Tbk (DSSA) which is controlled by Indonesian businessman ...
Friday, 27 May 11
LARGER DRY BULK CARRIERS LEAD BDIS RALLY THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Larger dry bulk vessels have kept on leading the market’s rise this week, with the BDI (Baltic Dry Index) rising by a more than healthy 3.43% ...
Wednesday, 25 May 11
70 PERCENT OF HARUMS PRODUCTION SOLD - BISNIS INDONESIA
Coal producer PT Harum Energy Tbk claimed that out of this year's total production target of 10 million tons, 70% or 7 million tons had been sold, ...
Wednesday, 25 May 11
MINERS BACK GOVT PLAN TO FREEZE MINING PERMITS - THE JAKARTA POST
Indonesian coal miners hailed the government’s decision to impose a moratorium on the issuance of new mining permits, saying the freeze would ...
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- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Planning Commission, India
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Parliament of New Zealand
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
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