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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, 06 April 11
FORBES & MANHATTAN COAL ANNOUNCES SIGNIFICANT OFF TAKE AGREEMENT
Steady Cash Flow Will Fund Production Ramp Up
Forbes & Manhattan Coal Corp., ("Forbes Coal" or the "Company") is a produc ...
Tuesday, 05 April 11
DRY BULK MARKET DOWN ON FIRST DAY OF SECOND QUARTER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market began the second quarter on a downward pattern, with the industry’s benchmark, the Baltic Dry Index (BDI) shedding 1.45 pe ...
Monday, 04 April 11
INDONESIA INTERNATIONAL CONFERENCE FOCUS ON INDONESIA'S ECONOMY (IICFIE) 2011 MASTER PLAN TO ACCELERATE THE ECONOMIC DEVELOPMENT
Press Release - Since couple of years, Indonesia's economy show impressive growth. What is the Indonesia's Economic Corridor and the Master plan t ...
Saturday, 02 April 11
TNPL CALLS FOR 160KT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL), is seeking to procure another 160,000 MT +/- 5 percent of Non-Coking imported C ...
Saturday, 02 April 11
THE FREIGHT MARKETS LIKELY TO BE SOFT NEXT WEEK - VISTAAR SINGAPORE
COALspot.com - The freight market softened this week affecting all sectors with BDI down by 65 points (down by 4.10 pct) and closed at 1,520 points. ...
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- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- White Energy Company Limited
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- MS Steel International - UAE
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
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