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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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- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- PTC India Limited - India
- Australian Coal Association
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
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