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Tuesday, 08 March 11
MINERS SAY VALUE-ADDED LAW WILL HURT IN THE LONG RUN - THE JAKARTA GLOBE
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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- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Marubeni Corporation - India
- ASAPP Information Group - India
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Planning Commission, India
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Economic Council, Georgia
- The University of Queensland
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- White Energy Company Limited
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Australian Coal Association
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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