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