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