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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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Tuesday, 08 February 11
BAYAN, KANGAROO EXTEND DUE DILIGENCE
Coal miner controlled by businessman Dato' Low Tuck Kwong PT Bayan Resources Tbk (BYAN) and Australia-listed coal company Kangaroo Resources Limite ...
Tuesday, 08 February 11
DRY BULK: IS THE TIDE TURNING? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what could be perceived as a change of market sentiment for the better, the dry bulk industry’s benchmark, the Baltic Dry Index (BDI) poste ...
Monday, 07 February 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 13.03 PERCENT IN FEBRUARY 2011
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the February 2011 Indonesian Coal Reference Price for therma ...
Monday, 07 February 11
COAL PRICES ON RISE: DEMAND FROM INDIA AND CHINA - ANALYZED SUNIL K KUMBHAT
INDONESIA IS HEART OF ASIAN COAL BOOM
COALspot.com - Rising demand of Coal from India and China, coupled with global financial recovery, is driv ...
Monday, 07 February 11
RICHARDS BAY COAL TERMINAL EXPORTS SURGE, BUOYED BY ECONOMIC DEVELOPMENT IN CHINA AND INDIA
COALspot.com - Richards Bay Coal Terminal (RBCT) announced today that 2010 exports have exceeded the last two years’ performance, said in a re ...
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- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Minerals Council of Australia
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
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