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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 $26.67 billion last year, making up 17 percent of total exports.
Priyo said his association would ask the government to review the value-added law and recommend that the plan be implemented in phases while miners upgraded their downstream capability.
“The domestic demand for minerals is too small to absorb the potential excess of commodities,” he said. “If this regulation is enforced, big companies like Newmont, Aneka Tambang and Inco will be the ones affected the most.”
Gold miner Newmont Nusa Tenggara, a local unit of the giant US firm, said complying with the value-added law could prove to be problematic.
“We understand the spirit of the law, but our studies have shown that building a smelter is not economically feasible,” Kasan Mulyono, NNT’s spokesman, told the Jakarta Globe on Monday.
“Currently, there is a global shortage on smelter supplies as many smelters are operating under their capacity.”
Bambang Gatot Ariyono, the director of mining development at the Energy Ministry, was unavailable for comment.
Source: The Jakarta Globe (By:Faisal Maliki Baskoro)
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Friday, 04 February 11
ADARO ENERGY FY10 COAL SALES UP 6 PERCENT TO 43.84 MILLION
As reported by insider stories, Indonesian coal miners PT Adaro Energy Tbk has produced 42.20 million tons of coal in 2010, a 4 percent increase com ...
Thursday, 03 February 11
MERCATOR LINES TO INVEST RS 200-250 CRORE ON COAL MINE IN INDONESIA - ECONOMIC TIMES
Economic Times reported that, Mercator Lines, the HK Mittal-controlled shipping-to-mines major, will invest about 200-250 crore (US$ 43.825 - 54.781 ...
Thursday, 03 February 11
DRY BULK MARKET LOOKS SET TO BOTTOM OUT NIKOS - ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market having lost more than 72% of its value in the last month or so and having retreated to a 2-year low, it seems that the bott ...
Wednesday, 02 February 11
INDONESIA MAY MISS COAL EXPORT TARGET IN 2011
COALspot.com - Indonesian Trade ministry has instructed independent surveyors temporarily not to issue pre-shipment survey report (LS) to the compan ...
Wednesday, 02 February 11
BAYAN TO SUPPLY COAL TO TP UTILITIES LTD
Insider Stories has reportd that, Indonesia's one of the leading coal miner PT Bayan Resources Tbk (BYAN) owned by businessman Dato' Low Tuck ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
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- Commonwealth Bank - Australia
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- Chamber of Mines of South Africa
- PTC India Limited - India
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- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
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- Power Finance Corporation Ltd., India
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- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
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- New Zealand Coal & Carbon
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- Sojitz Corporation - Japan
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- Georgia Ports Authority, United States
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- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- White Energy Company Limited
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- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
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- Directorate Of Revenue Intelligence - India
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- Ceylon Electricity Board - Sri Lanka
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- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
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- Planning Commission, India
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- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
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- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
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- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
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- Wilmar Investment Holdings
- Romanian Commodities Exchange
- ICICI Bank Limited - India
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- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
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- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
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- Bhushan Steel Limited - India
- CNBM International Corporation - China
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- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
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