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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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Wednesday, 02 February 11
HUGE TONNAGE OVERSUPPLY LOOMING FOR DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market taking another dive yesterday, to just over 1,000 points (1,084), losing more than 2% on the day, it’s more than obvi ...
Monday, 31 January 11
S. SUMATRA COAL RAILWAY TO BE COMPLETED ON SCHEDULE - THE JAKARTA POST
The Jakarta Post reported that, despite land acquisition problems, state coal mining company PT Bukit Asam is upbeat that the development of a railw ...
Monday, 31 January 11
COAL MINER PTBA TO DRIVE OUTPUT WITH ACQUISITIONS - THE JAKARTA GLOBE
The Jakarta Globe reported that, State coal company Perusahaan Tambang Batubara Bukit Asam said its output would increase 34 percent to 17.6 million ...
Saturday, 29 January 11
PRESSURE ON SHIPPING MARKET MAY CONTINUE UNTIL MID FEBRUARY 2011
COALspot.com - The BDI continues to drop and saw a drop of about 5 pct this week closing at 1370 points.
In May 2010 the BDI touched 4,209 ...
Saturday, 29 January 11
ANTAM ACQUIRES SAROLANGUN COAL MINING
According to Insider Stories, Nickel and gold miner PT Aneka Tambang Tbk (Antam) of Indonesia via its subsidiary PT Indonesia Coal Resources (ICR) h ...
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- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Economic Council, Georgia
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- White Energy Company Limited
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
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