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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, 28 February 11
COAL INDIA HIKES PRICES BY 12% FOR SELECT CONSUMERS - ECONOMIC TIMES
Economic Times reported that, Coal India has raised prices by an average 12% for some of its consumers from Sunday, boosting its revenue by 6,000 cr ...
Saturday, 26 February 11
CIL TO HIKE COAL PRICES BY 15 PC FROM TONIGHT - THE TIMES OF INDIA
The Times of India reported that, an Indian State-run coal producer, Coal India will raise the price of coal on an average by about 15 per cent with ...
Saturday, 26 February 11
SUPRAMAX INDEX WAS UP ABOUT 10 PERCENT THIS WEEK - VISTAAR
COALspot.com - The market started on a weak note and seemed to have lost the momentum seen the previous week. The main sectors affected were Cape an ...
Saturday, 26 February 11
PEABODY ENERGY ENTERS INTO COAL SOURCING AGREEMENT ACCESSING INDONESIAN COAL FOR EXPORT
Peabody Energy today said it has entered into an agreement with Indonesia's PT Cahaya Energi Mandiri (CEM) to source 2 million tons of coal for Asi ...
Thursday, 24 February 11
DRY BULK MARKET KEEPS LOSING GROUND, CAPESIZES SUFFERING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market lost further ground yesterday, as the industry’s benchmark, the Baltic Dry Index was rapidly falling, ending the session d ...
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- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Agrawal Coal Company - India
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