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