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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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Thursday, 19 May 11
INDONESIAN COAL EXPORTS DROP 7.98 PERCENT IN APRIL
COALspot.com - Indonesian coal exports dropped to 2.168 million tons in April, and up 7.13 percent on the year and 7.98 percent below March, a ...
Thursday, 19 May 11
OVERSUPPLY, VERY LARGE ORE CARRIERS EAT UP ON DRY BULK FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a brief upward momentum which ended early last week, the Baltic Dry Index, the dry bulk market’s benchmark has returned to its usual pat ...
Wednesday, 18 May 11
THE US COAL INDUSTRY LOGGED EXPORTS OF AROUND 25M TONNES IN 1Q OF 2011 - BRS
Another slow decline in the bulk markets this week, with the BCI losing the most at nearly 5%, the BPI 2.8% and the smaller sizes sub-1% amounts. Th ...
Wednesday, 18 May 11
AKR AIMS TO SELL COAL WORTH RP216 BILLION - PAPER
Bisnis Indonesia, an Indonesia's one of the leading business paper reported that, PT AKR Corporindo Tbk has targeted coal sales valued at Rp216 bil ...
Wednesday, 18 May 11
OVERHAUL OF MINING LAW MAY DETER INVESTMENT, S&P SAYS - THE JAKARTA GLOBE
The Jakarta Globe, an Indonesian English language news paper reported that, A report by Standard & Poor’s Ratings Services that a regulatory ...
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- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- The University of Queensland
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- White Energy Company Limited
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- PTC India Limited - India
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
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