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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 $26.67 billion last year, making up 17 percent of total exports.
Priyo said his association would ask the government to review the value-added law and recommend that the plan be implemented in phases while miners upgraded their downstream capability.
“The domestic demand for minerals is too small to absorb the potential excess of commodities,” he said. “If this regulation is enforced, big companies like Newmont, Aneka Tambang and Inco will be the ones affected the most.”
Gold miner Newmont Nusa Tenggara, a local unit of the giant US firm, said complying with the value-added law could prove to be problematic.
“We understand the spirit of the law, but our studies have shown that building a smelter is not economically feasible,” Kasan Mulyono, NNT’s spokesman, told the Jakarta Globe on Monday.
“Currently, there is a global shortage on smelter supplies as many smelters are operating under their capacity.”
Bambang Gatot Ariyono, the director of mining development at the Energy Ministry, was unavailable for comment.
Source: The Jakarta Globe (By:Faisal Maliki Baskoro)
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Thursday, 10 February 11
SUPRA RATES IMPROVED A LITTLE OVER US$ 6K BSS N. CHINA DELIVERY FOR INDO-INDIA AND THAILAND ROUNDS - FEARNBULK
Handy
Atl is still weak with little fresh enquiry and an accumulation of spot tonnage.Owners are reluctant to send tonnage thru Suez due to uncert ...
Thursday, 10 February 11
BUKIT ASAM EXPECTS ABOVE RP 3 TRIO PROFIT
The state-owned coal miner PT Tambang Bukit Asam Tbk (PTBA) expects to reach 2011's net profit above Rp 3 trillion (US$ 336,322,568) from above Rp2 ...
Wednesday, 09 February 11
INDONESIA ALLOWED 60 COAL TRADING COMPANIES TO EXPORT COAL
COALspot.com - A temporary ban imposed on coal traders in January has lifted this week. As of today 60coal trading companies were allowed to resume ...
Tuesday, 08 February 11
INDIA'S SIMHAPURU TARGETS S.AFRICAN COAL - ECONOMIC TIMES
Economic Times reported that, India's Simhapuri Energy , a unit of the Madhucon Group , wants to buy new or existing collieries in South Africa fro ...
Tuesday, 08 February 11
PUSTAKA JAYA PALU POWER LOOKING FOR 5800 GAD COAL
COALspot.com - According to market information, PT Pustaka Jaya Palu Power, a power plant operator of the Mpanau plant, Palu, Sulawesi has invited c ...
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- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Economic Council, Georgia
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
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- Merrill Lynch Commodities Europe
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- Ministry of Transport, Egypt
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- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
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- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
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- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Planning Commission, India
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
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