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