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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 $26.67 billion last year, making up 17 percent of total exports.
Priyo said his association would ask the government to review the value-added law and recommend that the plan be implemented in phases while miners upgraded their downstream capability.
“The domestic demand for minerals is too small to absorb the potential excess of commodities,” he said. “If this regulation is enforced, big companies like Newmont, Aneka Tambang and Inco will be the ones affected the most.”
Gold miner Newmont Nusa Tenggara, a local unit of the giant US firm, said complying with the value-added law could prove to be problematic.
“We understand the spirit of the law, but our studies have shown that building a smelter is not economically feasible,” Kasan Mulyono, NNT’s spokesman, told the Jakarta Globe on Monday.
“Currently, there is a global shortage on smelter supplies as many smelters are operating under their capacity.”
Bambang Gatot Ariyono, the director of mining development at the Energy Ministry, was unavailable for comment.
Source: The Jakarta Globe (By:Faisal Maliki Baskoro)
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Wednesday, 27 April 11
DRY BULK MARKET LACKS ACTIVITY, RATES KEEP RETREATING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the Easter Holidays for a large of the world now behind, the dry bulk market kept lacking activity on Tuesday, which led the Baltic Dry Index ( ...
Tuesday, 26 April 11
NTPC CALLS TENDER FOR 4 MLN TON OF NON-COKING COAL
COALspot.com - NTPC Limited, incorporated in 1975 as a public sector company wholly owned by Government of India, is the largest thermal power gener ...
Monday, 25 April 11
THE FUTURES FOR THREE YEARS WAS AT AROUND PANAMAX/US$ 14,000 PER DAY & SUPRAMAX/US$ 14,000 PER DAY - VISTAAR
COALspot.com - The freight market continued to soften further with all segments down except for the handy size which was marginally up by 10 points. ...
Saturday, 23 April 11
GUPTA COAL TO BAG ONE MILLION TONS OF COAL SUPPLY ORDER FROM KPCL AT AROUND US$ 127.53 PMT
COALspot.com - Karnataka Power Corporation (KPCL), a state utility of Karnataka, India has secured its one million tons of thermal coal with c ...
Saturday, 23 April 11
STRAITS ASIA SETS 11.5 MIO TONS OUTPUT - INSIDER STORIES
Insider Stories reported that, Singapore-listed Straits Asia Resources Limited plans to jack up its coal output target of 8.5% to 11.5 million tons ...
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- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- MS Steel International - UAE
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Planning Commission, India
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- White Energy Company Limited
- Australian Coal Association
- Sojitz Corporation - Japan
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