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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, 28 April 11
BALTIC DRY INDEX NUDGES UP AFTER DAYS OF LOSSES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After consecutive falls, the dry bulk freight market, as followed through the Baltic Dry Index, finally caught a breather yesterday, with the BDI ma ...
Wednesday, 27 April 11
KEWESPO CALLS FOR 765KT OF THERMAL COAL
COALspot.com - South Korea's East-West Power Co's (KEWESPO) has issued a tender to buy total 765,000 tonnes of thermal coal for delivery between J ...
Wednesday, 27 April 11
HARUM ENERGY TO PAY RP 659.1B IN DIVIDENDS - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miner Harum Energy is planning to pay out Rp 659.1 billion (US$76.46 million) in dividends this year ...
Wednesday, 27 April 11
TSIS $5 MILLION PLANT TO START PRODUCING UPGRADED COAL - THE JAKARTA POST
The Jakartapost reported that, PT Total Sinergy International (TSI), in association with Agritrade Resources Limited of Hong Kong, will upgrade its ...
Wednesday, 27 April 11
RAIN CONSIDERS COAL MINES TAKEOVER - INSIDER STORIES
Indonesian's tenth largest coal miner in term of coal concession, PT Resource Alam Indonesia Tbk (KKGI), is considering to acquire several coalmine ...
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- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
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