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