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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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Tuesday, 10 May 11
DRY BULK MARKET KEEPS ON RISING, OUTLOOK MIXED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched forward once again on Monday, with the Baltic Dry Index rising by 0.6% to 1,348, although the Capesize market was 0.57% l ...
Monday, 09 May 11
THAILAND COAL IMPORTS SURGE IN Q1 - ICAP SHIPPING
Thailand's coal imports leapt 20% in Q1 and the country looks set to import its largest ever volume in 2011 as quoted by ICAP Shipping web site.
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Monday, 09 May 11
KOSPO SEEKING 65KT STEAMING COAL
COALspot.com - Korea Southern Power Co (KOSPO) issues tender for 65000 Mt of Steaming Coal Supply with a minimum CV of 4,500 kcal/kg on NAR basis. D ...
Monday, 09 May 11
INDONESIA HBA FALL BELOW $118
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the May 2011 Indonesian Coal Reference Price for thermal coal at US$ 11 ...
Monday, 09 May 11
DIAN SWASTATIKA Q1 PROFIT SOARS 511 PERCENT - INSIDER STORIES
PT Dian Swastatika Sentosa Tbk (DSSA), parent of coal miner PT Golden Energy Mines, reported a 511.73% jump in net profit for the first quarter of t ...
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- Marubeni Corporation - India
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
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