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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, 05 May 11
PANAMAXES LEAD DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s benchmark, the Baltic Dry Index (BDI) managed to edge higher yesterday, rising by 1.81% to 1,292 points, in the first po ...
Thursday, 05 May 11
AKR NAMES KARUNIA AS COAL CONTRACTOR
Insider Stories reported that, PT AKR Corporindo Tbk has appointed PT Karunia Bumi Khatulistiwa as the contractor of coal mining concession in North ...
Tuesday, 03 May 11
DRY BULK MARKET OUTLOOK SEEN WEAK, AS SHIP OWNERS PILE UP MORE SHIPS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the Baltic Dry Index not trading yesterday, it’s worth taking a step back to see the current freight levels. First of all, capesizes and ...
Tuesday, 03 May 11
THE HANDY MARKET CONTINUED TO SLIDE DOWN - BRS
There were marginal increases in rates for the larger sizes this week, with the Cape index remaining stable and the Panamax index logging a 5% incre ...
Monday, 02 May 11
ADARO POSTS 11.7 PERCENT INCREASE IN REVENUES ON HIGHER PRICES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s second-largest coal producer, PT Adaro Energy Tbk, announced an 11.7 percent increase in net reven ...
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- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
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