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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, 13 April 11
CAPESIZE VESSELS ARE DELIVERED AT A PACE OF ONE NEW VESSEL EVERY SECOND DAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In a clear sign that it will take a significant rise in global seaborne dry bulk trade in order to be able to absorb the flurry of new building tonn ...
Sunday, 10 April 11
SOFT FREIGHT MARKET TREND LIKELY TO BE CONTINUED - VISTAAR SHIPPING
COALspot.com - The freight market continued to soften further with the BDI breaking the 1,500 points and closing at 1376 points down by almost 10 pc ...
Thursday, 07 April 11
HANDY RATES SLIDING NOW - FEARNBULK
Handy
Slowly softening rates as more tonnage is accumulating in the Atlantic basin.The trans-Atlantic round is around $15k pd with trips to ...
Thursday, 07 April 11
DRY BULK MARKET PLUNGING EVEN FURTHER ON LOW CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has continued its falling pattern this week, with every day proving to be painful for ship owners, especially those of the large ...
Thursday, 07 April 11
INDIKA BUYS MITRABAHTERA AT US$ 0.183
PT Indika Energy Tbk (INDY), integrated energy company, today has exercised an option agreement to acquire 51% shareholding in newly listed coal tug ...
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- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Planning Commission, India
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Parliament of New Zealand
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- The University of Queensland
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
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