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