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