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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 $26.67 billion last year, making up 17 percent of total exports.
Priyo said his association would ask the government to review the value-added law and recommend that the plan be implemented in phases while miners upgraded their downstream capability.
“The domestic demand for minerals is too small to absorb the potential excess of commodities,” he said. “If this regulation is enforced, big companies like Newmont, Aneka Tambang and Inco will be the ones affected the most.”
Gold miner Newmont Nusa Tenggara, a local unit of the giant US firm, said complying with the value-added law could prove to be problematic.
“We understand the spirit of the law, but our studies have shown that building a smelter is not economically feasible,” Kasan Mulyono, NNT’s spokesman, told the Jakarta Globe on Monday.
“Currently, there is a global shortage on smelter supplies as many smelters are operating under their capacity.”
Bambang Gatot Ariyono, the director of mining development at the Energy Ministry, was unavailable for comment.
Source: The Jakarta Globe (By:Faisal Maliki Baskoro)
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Monday, 07 February 11
RBCT SHIPPED 28.67 PERCENT LESS COAL IN JANUARY
COALspot.com - Richards Bay Coal Terminal (RBCT) is the single largest export coal terminal in the world, shipped 4,389,925 MT of coal in January 20 ...
Sunday, 06 February 11
THE PANAMAX & SUPRAMAX FUTURES FOR 2011-2013 WAS AT AROUND US$ 16,500 & US$ 15,000 PER DAY RESPECTIVELY
COALspot.com - With the Chinese new year holidays this week, the market has been fairly quite as expected.
The BDI saw a bigger drop compared to ...
Saturday, 05 February 11
INDONESIAN ENERGY MINISTER HAS SIGNED A DECREE FOR COAL TRANSPORTATION PERMITS ON FRIDAY
COALspot.com - Minister of Energy, Darwin Minister Saleh said, that, he had signed a decree for transportation and sale of coal, which was the ...
Saturday, 05 February 11
ANCHORAGE LOADING POINT MOVED TO MUARA JAWA
COALspot.com - The Ministry of Transportation Republic Indonesia has announced that, the loading point at Muara Berau, East kalimantan h ...
Friday, 04 February 11
PERTAMINA DENIES KAREN AGUSTIAWAN RESIGNS FROM PERTAMINA
COALspot.com - The President Director of PT Pertamina, Karen Agustiawan reportedly will replace Darwin Saleh as Minister of Energy and Mineral Resou ...
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- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Planning Commission, India
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Economic Council, Georgia
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
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