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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, 25 May 11
DRY BULK MARKET ENTERS WEEK ON A HIGH NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has managed to end its downward trend of the past few weeks and surge back on higher ground. Yesterday, the Baltic Dry Index (BD ...
Monday, 23 May 11
BRMS IS TO START PRODUCTION FROM DAIRI PRIMA MINERALS
COALspot.com - The Presidential Decree No. 28 Year 2011 that allows conditional underground mining in the protected forest areas was issued on 19th ...
Sunday, 22 May 11
INDONESIA - INDIA IS LIKELY TO BE STEADY NEXT WEEK - VISTAAR SINGAPORE
COALspot.com - The freight market remained soft beginning of the week, however second half of the week was firm with BDI up by 3.29 pct and closed a ...
Saturday, 21 May 11
OWNERS PREFER TO DO INDO COAL OR NICKEL ORE TO CHINA RATHER THAN GOING TO INDIA - FEARNBULK
Handy
The Atlantic is marked by volatility and very positional, nevertheless USG,NCSA, Cont remain strong thanks to the petcoke, grains and scrap ...
Friday, 20 May 11
GOVT TOLD TO LIMIT COAL, GAS EXPORTS - THE JAKARTA POST
The Jakarta Post, a leading news paper in Indonesia, reported that, Amid soaring global oil prices, the government should limit exports of coal and ...
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- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
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