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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 $26.67 billion last year, making up 17 percent of total exports.
Priyo said his association would ask the government to review the value-added law and recommend that the plan be implemented in phases while miners upgraded their downstream capability.
“The domestic demand for minerals is too small to absorb the potential excess of commodities,” he said. “If this regulation is enforced, big companies like Newmont, Aneka Tambang and Inco will be the ones affected the most.”
Gold miner Newmont Nusa Tenggara, a local unit of the giant US firm, said complying with the value-added law could prove to be problematic.
“We understand the spirit of the law, but our studies have shown that building a smelter is not economically feasible,” Kasan Mulyono, NNT’s spokesman, told the Jakarta Globe on Monday.
“Currently, there is a global shortage on smelter supplies as many smelters are operating under their capacity.”
Bambang Gatot Ariyono, the director of mining development at the Energy Ministry, was unavailable for comment.
Source: The Jakarta Globe (By:Faisal Maliki Baskoro)
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Friday, 22 April 11
DRY BULK MARKET KEEPS FALLING, NOW AT TWO-MONTH LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems unable at the moment to recover from the weight of newbuilding deliveries, resulting in too many ships competing for fewer ...
Wednesday, 20 April 11
TNPL SECURED 160K MT OF COAL WITH CALORIFIC VALUE 6000 GAD AT US$ 93.44 PMT
COALspot.com - Delhi based Knowledge Infrastructure Systems Pvt. Ltd once again offered the lowest price of US$ 93.44 per metric ton for calorific v ...
Wednesday, 20 April 11
TSI LAUNCHES GEO-COAL UPGRADING TECHNOLOGY
Simple yet effective process boosts calorific value of low rank coal to provide lower cost energy across the world.
Press Release - Total Sinergy ...
Wednesday, 20 April 11
ADARO TO PAY OUT RP 970B IN DIVIDENDS - THE JAKARTA POST
The Jakarta Post reported that, the annual shareholders meeting of coal producer PT Adaro Energy on Wednesday agreed on the disbursement of Rp 970.7 ...
Wednesday, 20 April 11
INDIA IMPORTS MORE COAL FROM INDONESIA
COALspot.com - Indonesian coal exports jumped 23.31 percent during March 2011. The world’s largest coal exporter shipped 27, ...
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- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Agrawal Coal Company - India
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- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
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- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
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- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
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- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
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- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
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- Kohat Cement Company Ltd. - Pakistan
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- Eastern Energy - Thailand
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- Indian Energy Exchange, India
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- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
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- Bangladesh Power Developement Board
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- Price Waterhouse Coopers - Russia
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- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
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- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
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- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
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- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Economic Council, Georgia
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- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
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- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
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- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
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- Independent Power Producers Association of India
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
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- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
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- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
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- India Bulls Power Limited - India
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- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- CNBM International Corporation - China
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- Edison Trading Spa - Italy
- White Energy Company Limited
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
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- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
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- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Planning Commission, India
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
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- Bharathi Cement Corporation - India
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- Georgia Ports Authority, United States
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
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- Ministry of Transport, Egypt
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- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
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