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