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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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Tuesday, 29 March 11
JAPAN FACTOR RIPPLING THROUGH THE SHIPPING MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the world watching the latest developments regarding the nuclear crisis in Japan and the devastating effects of the recent tragedy that struck ...
Tuesday, 29 March 11
DUTY EXEMPTION UNLIKELY TO IMPACT COKING COAL PRICES - PTI NEWS
Press Trust of India News reported that, the exemption to certain types of coking coal from customs duty is not likely to impact steel prices at pre ...
Monday, 28 March 11
HARUM ENERGY FY10 EARNING UP 7.23% - INSIDER STORIES
Thermal coal producer PT Harum Energy Tbk (HRUM), controlled by Indonesian businessman Kiki Barki through his son Lawrence Barki, posted a slight in ...
Monday, 28 March 11
IBT RAISES CAPACITY OF PULAU LAUT TERMINAL - THE JAKARTA POST
The Jakarta Post reported that, coal infrastructure and logistics firm PT Indonesia Bulk Terminal (IBT), a subsidiary of PT Adaro Energy Tbk, plans ...
Saturday, 26 March 11
THE FREIGHT MARKET REMAINED A BIT VOLATILE THIS WEEK - CAPT. REDDY
COALspot.com - "The freight market remained a bit volatile this week", says Capt. Reddy, director of Vistaar Shipping Singapore.
Howeve ...
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- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- PTC India Limited - India
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Australian Coal Association
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Planning Commission, India
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
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