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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 $26.67 billion last year, making up 17 percent of total exports.
Priyo said his association would ask the government to review the value-added law and recommend that the plan be implemented in phases while miners upgraded their downstream capability.
“The domestic demand for minerals is too small to absorb the potential excess of commodities,” he said. “If this regulation is enforced, big companies like Newmont, Aneka Tambang and Inco will be the ones affected the most.”
Gold miner Newmont Nusa Tenggara, a local unit of the giant US firm, said complying with the value-added law could prove to be problematic.
“We understand the spirit of the law, but our studies have shown that building a smelter is not economically feasible,” Kasan Mulyono, NNT’s spokesman, told the Jakarta Globe on Monday.
“Currently, there is a global shortage on smelter supplies as many smelters are operating under their capacity.”
Bambang Gatot Ariyono, the director of mining development at the Energy Ministry, was unavailable for comment.
Source: The Jakarta Globe (By:Faisal Maliki Baskoro)
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Wednesday, 09 March 11
INDONESIA HAS SET THE MARCH 2011 INDONESIAN COAL REFERENCE PRICE FOR THERMAL COAL AT US$ 122.43 PER TON
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the March 2011 Indonesian Coal Reference Price for thermal c ...
Tuesday, 08 March 11
US$ 8 BILLION WORTH OF INFRASTRUCTURE PROJECTS IN PIPELINE IN INDONESIA - WOOD MACKENZIE
India’s Increasing Demand for Thermal Coal Cannot Be Satisfied Without Emerging Coal Areas in Indonesia - Wood Mackenzie
At Coa ...
Tuesday, 08 March 11
INDIA'S VEDANTA TO ACQUIRE COAL MINES IN OVERSEAS
COALspot.com - India's Vedanta group is also looking at long-term off take agreements and possible acquire of coal mines overseas, the official sai ...
Tuesday, 08 March 11
THE PANAMAX MARKET THIS WEEK FIRMED UP - BRS
Underlining the unpredictability of the current market, rates for all dry bulk segments swung up again last week. Stronger exports out of South Amer ...
Sunday, 06 March 11
THE S6 ROUTE MAY CONTINUE TO BE FIRM - VISTAAR
COALspot.com - The freight market was firm this week with all indices up. The BDI , Cape Index and Panamax index was up by almost 9 pct where as Sup ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Parliament of New Zealand
- The University of Queensland
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- PTC India Limited - India
- Economic Council, Georgia
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Australian Coal Association
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Posco Energy - South Korea
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
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