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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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Thursday, 24 February 11
SUPRAS ARE FIXED AT CLOSE TO 10K FOR TRIPS VIA INDONESIA TO INDIA WITH COAL - FEARNBULK
Handy
After a short lived surge in rates the Atlantic market has flattened out due to too many spot vessels. The USGulf has cooled down somewhat f ...
Wednesday, 23 February 11
LIMITED AVAILABILITY OF COAL COULD TRIP MEGA POWER PLANT - THE ECONOMIC TIMES
The Economic Times, an Indian leading news paper reported that, an acute shortage of domestic coal is threatening to destabilize new power generatio ...
Wednesday, 23 February 11
DRY BULK MARKET BACK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The two week rise of dry bulk freight rates seems to have come to a halt this week, with the industry’s benchmark, the Baltic Dry Index (BDI) lo ...
Wednesday, 23 February 11
INDONESIA NEEDS TO REVISE EXPORT BAN ON 5600 GAD COAL EXPORT - INDUSTRY
COALspot.com - The Indonesian government may be forced to revise its 2014 timeline for the proposed ban on all low quality coal exports, Patrick Han ...
Tuesday, 22 February 11
SUPRAMAX MARKET IS IMPROVING IN THE PACIFIC
BRS - A 10% rise in the BDI this week, mostly on the back of Panamax rates and improvements in the Supramax market in the Pacific. For the Capes, ra ...
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- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- The Treasury - Australian Government
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Parliament of New Zealand
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
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