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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 $26.67 billion last year, making up 17 percent of total exports.
Priyo said his association would ask the government to review the value-added law and recommend that the plan be implemented in phases while miners upgraded their downstream capability.
“The domestic demand for minerals is too small to absorb the potential excess of commodities,” he said. “If this regulation is enforced, big companies like Newmont, Aneka Tambang and Inco will be the ones affected the most.”
Gold miner Newmont Nusa Tenggara, a local unit of the giant US firm, said complying with the value-added law could prove to be problematic.
“We understand the spirit of the law, but our studies have shown that building a smelter is not economically feasible,” Kasan Mulyono, NNT’s spokesman, told the Jakarta Globe on Monday.
“Currently, there is a global shortage on smelter supplies as many smelters are operating under their capacity.”
Bambang Gatot Ariyono, the director of mining development at the Energy Ministry, was unavailable for comment.
Source: The Jakarta Globe (By:Faisal Maliki Baskoro)
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Saturday, 26 March 11
FLSMIDTH WINS MULTIMILLION DOLLAR MATERIAL HANDLING PROJECT IN INDONESIA
FLSmidth has signed a contract in Jakarta worth in excess of USD 135m (DKK 700m) with PT Adaro Indonesia, a subsidiary of PT Adaro Energy Tbk., to s ...
Saturday, 26 March 11
ADARO AIMS TO DOUBLE COAL PRODUCTION -THE JAKARTA POST
The Jakarta Post reported that, coal producer PT Adaro Indonesia is planning to soon boost its production capacity to 80 million tons annually, almo ...
Friday, 25 March 11
KNOWLEDGE INFRASTRUCTURE TO BAG 160,000 MT COAL SUPPLY ORDER FROM TNPL
COALspot.com - Delhi based Knowledge infrastructure Systems Pvt. Ltd offered lowest price of US$ 97.10 per metric ton for calorific value of 6000 GA ...
Friday, 25 March 11
THE CAPESIZE MARKET CONTINUED TO FALL - FEARNBULK
Handy
The Atlantic market remains stable with more activity from the Black Sea to Feast paying in the mid 20´s on supras.
The USG remain ...
Friday, 25 March 11
BORNEO ENERGI FY10 NET INCOME SOARS - INSIDER STORIES
Coking coal producer PT Borneo Lumbung Energi Tbk (BORN) booked a skyrocket net income by 499.72% from net loss position in 2009, as quoted by Insid ...
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- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- The University of Queensland
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
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