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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, 21 February 11
CHURCHILL MINING RECEIVES SIGNIFICANT INTEREST, PROPOSALS TO DEVELOP EAST KUTAI COAL PROJECT - PROACTIVE INVESTORS
Proactive Investors reported that, Churchill Mining has received a number of specific proposals to fund and develop its massive East Kutai coa ...
Monday, 21 February 11
ABOLISH 5% DUTY ON COAL IMPORTS: SHINDE
Indian Express reported that, with acute coal shortage of domestic coal threatening to destabilise its power generation plans, the power ministry ha ...
Saturday, 19 February 11
THE FREIGHT MARKET EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The market was quite firm this week with freight rates in South east asia and India/Feast almost up by 30 pct.
However towards end ...
Thursday, 17 February 11
COAL-GEN EUROPE 2011 REAFFIRMS THE IMPORTANCE OF COAL
Press Release: The third COAL-GEN Europe conference and exhibition, kicked off on Tuesday 15 February, with leading experts, professionals and compa ...
Thursday, 17 February 11
UNCERTAINTY AND VOLATILITY - FEARNBULK
Handy
Recovering market as evidenced by the solid USD 16k/day achieved by a handymax from Continent to east Med with scrap. More short period requ ...
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- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Bhatia International Limited - India
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
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