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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, 01 April 11
SUPRAS EX RICHARDS BAY COAL TERMINAL TO INDIA HOVERING AT $ 25 - 27.00 PMT - FEARNBULK
Handy
Atlantic markets remain stable with more activity from the Black Sea to FEast paying in the mid 20´s on Supras. The USG remains firm p ...
Friday, 01 April 11
DRY BULK MARKET WEAKENS ON SLOWER DEMAND, HOPES FOR MID-TERM REBOUND ON JAPANS RECONSTRUCTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market, as reflected in the Baltic Dry Index (BDI) retreated for a third day yesterday, after staying flat on Monday, to end at 1,530 p ...
Wednesday, 30 March 11
CHALLENGER SIGNS OPTION AGREEMENTS TO PURCHASE FOUR COAL PROJECTS IN INDONESIA
Challenger Signs Three Exclusive Option Agreements to Purchase Four Coal Projects in East Kalimantan, Indonesia
Challenger Deep Resources Corp.ha ...
Wednesday, 30 March 11
KPCL TO IMPORT ONE MILLION TONS OF 6300 GAD COAL
COALspot.com - Karnataka Power Corporation a state utility of Karnataka, India called for open tender for supply of one million tons of 6300 Kcal/kg ...
Wednesday, 30 March 11
WIKA GRABS PROJECT FROM ADARO INDONESIA - INSIDER STORIES
One of Indonesia's largest thermal coal PT Adaro Indonesia has finally mandated PT Wijaya Karya Tbk (WIKA) as a contractor to install and manage ov ...
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- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Planning Commission, India
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
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