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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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Sunday, 17 April 11
THE FREIGHT MARKET APPEARS WILL CONTINUE TO BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com - "The freight market continued to soften further with all segments down except for the handy size which was marginally up by 10 p ...
Sunday, 17 April 11
ADARO TO PROPOSE US$75 MILLION DIVIDEND
COALspot.com - One of Indonesia's largest coal miner PT Adaro Energy Tbk (ADRO) is keen to propose a final dividend of US$75 million or Rp 20.17 (U ...
Saturday, 16 April 11
TNPL RECEIVES 1.6MT OF COAL OFFERS - SOURCES
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. has closed its 160,000 MT coal inquiry today.
More than a half a dozen of Indian coal t ...
Friday, 15 April 11
DRY BULK MARKET KEEPS ON FALLING, ON LOW DEMAND AND HIGH SUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its falling patern this week, with the industry’s benchmark, the Baltic Dry Index (BDI) retreating again yesterda ...
Thursday, 14 April 11
SUPRAS IN N.CHINA GET CLOSE TO $12000 FOR TRIPS VIA INDONESIA TO INDIA - FEARNBULK
Handy
The Atlantic market remains flat - very little new/fresh business and slow activity. Considerable prompt tonnage remains unfixed. The USG pa ...
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- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Economic Council, Georgia
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- The University of Queensland
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- The Treasury - Australian Government
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
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