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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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Monday, 14 March 11
IRON ORE TRADING WORLD EUROPE 2011
Press Release - Strategy and opportunity for miners, steelmakers, end users and the financial community.
The iron ore spot market is growing at a ...
Sunday, 13 March 11
COAL NO LONGER A CHEAP ENERGY SOURCE - THE SUNDAY LEADER
The Sunday Leader reported that, the addition of power generated through coal power to the country’s national grid was initially expected to r ...
Sunday, 13 March 11
THE FREIGHT MARKET SEEMS WILL BE FIRM FOR MARCH AND APRIL - VISTAAR
COALspot.com - The freight market continued to rise with the BDI crossing 1500 points and the cape size index up by 32 pct and all other segments al ...
Friday, 11 March 11
THE HANDY MARKET IS QUITE VOLATILE
Handy
Lacklustre week as the USG is the only bright light with high volumes of petcoke/coal into the Med (paying mid 20´s bss aps USG). Litt ...
Thursday, 10 March 11
DRY BULK MARKET SHOWING SIGNS OF STRONGER RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market jumped by 3.37% yesterday, with the industry’s benchmark, the Baltic Dry Index (BDI), moving up to 1,472 points, levels no ...
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- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
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- Xindia Steels Limited - India
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Coal and Oil Company - UAE
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- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
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- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
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- Indogreen Group - Indonesia
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- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
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- Ministry of Mines - Canada
- Renaissance Capital - South Africa
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- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
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- Chamber of Mines of South Africa
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- GAC Shipping (India) Pvt Ltd
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- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
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- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
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- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- CNBM International Corporation - China
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- SMC Global Power, Philippines
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- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
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- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
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- Intertek Mineral Services - Indonesia
- Planning Commission, India
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- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
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