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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, 22 March 11
KRISHNAPATNAM PORT SETS ALL INDIA RECORD FOR COAL DISCHARGING
COALspot.com - "Krishnapatnam Port has set an all India record for discharging 71,587 tons of steam coal in just 24 hrs using the conventional ...
Sunday, 20 March 11
FREIGHT MARKETS COULD SOFTEN NEXT WEEK DUE TO JAPANESE PORTS CLOSURE AND LIBYAN CRISIS - VISTAAR
COALspot.com - The BDI was down by 1.98 pct (closing at 1531 points) mainly due to Cape index which was down by almost 11 pct and closed 1687 points ...
Friday, 18 March 11
FALL IN INDONESIAN COAL EXPORTS IN FEBRUARY 11
COALspot.com - Indonesian coal exports seen a fall of 10.76% during Feb 2011. The world’s largest coal exporter shipped 22.029 MMts of c ...
Thursday, 17 March 11
THE PACIFIC HANDY MARKET IS CURRENTLY STEADY - FEARNBULK
Handy
The Atlantic market is showing signs of recovery and does not seem to be affected by the Japan disaster. The market is very positional and i ...
Tuesday, 15 March 11
COAL PRODUCTION FORECAST TO SURGE ON RISING PRICES - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal production is forecast to increase by 20 percent this year as coal prices continue to ...
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- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- The University of Queensland
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Australian Coal Association
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
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