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Tuesday, 08 March 11
MINERS SAY VALUE-ADDED LAW WILL HURT IN THE LONG RUN - THE JAKARTA GLOBE
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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Tuesday, 15 February 11
INDONESIAN COAL FOR HARYANA THERMAL PLANTS - PUNJAB NEWS LINE
To tide over the recurring coal shortage at thermal plants Haryana Power Generation Corporation Limited (HPGCL) has gone for Malaysian coal for its ...
Tuesday, 15 February 11
TONNAGE OVERSUPPLY TO CHOKE FREIGHT RATES IN THE COMING MONTHS SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In a new report assessing the dry bulk market, BIMCO’s analysis suggests that freight rates for Capesize vessels are likely to remain depresse ...
Sunday, 13 February 11
COAL MARKETS 2011 TO HIGHLIGHT INDONESIAN COAL AND NEW SOURCES OF COAL SUPPLY
“Over 300 senior decision-makers from coal mining, power and trading companies expected to congregate in Singapore”
Press Release - K ...
Sunday, 13 February 11
YEAR OF RABBIT PUSHING FREIGHT MARKET UP
COALspot.com – “The market finally moved up with firmness in all sectors with some positive signs of markets recovering”, said Cap ...
Friday, 11 February 11
DRY BULK MARKET HEATING UP ON FRESH CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is on a high this week, with owners of smaller vessels turning their attention towards the spot market, in order to take advanta ...
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- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Australian Coal Association
- Indian Oil Corporation Limited
- Planning Commission, India
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- White Energy Company Limited
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Mjunction Services Limited - India
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