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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, 25 January 11
DRY BULK RATES CONTINUED TO TUMBLE LAST WEEK - BRS
With weather-related problems affecting the short-term outlook, and new building deliveries the longer-term picture, dry bulk rates continued to tum ...
Tuesday, 25 January 11
R-POWER TO INVEST $5BN IN INDONESIA - THE TIMES OF INDIA
The Times of India reported that, In what is being seen as one of the largest foreign investments in Indonesia, Reliance Power will infuse $5 billio ...
Monday, 24 January 11
GOVT PROMISES COAL FOR PLN DESPITE PRICE SPIKES - THE JAKARTA POST
The Jakarta Post reported that, the government says state electricity company PT PLN will receive enough coal to fire its power plants, despite pric ...
Monday, 24 January 11
DRY BULK MARKETS DOWNTURN SEES NO RELIEF - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept falling for yet another week, with the industry’s benchmark, the Baltic Dry Index (BDI) losing an additional 4.79 ...
Sunday, 23 January 11
THE AVERAGE CHARTER RATE FOR CAPE SIZE VESSELS WAS AT $ 8,859 PD ALMOST CLOSE TO 2008 LOWS - VISTAAR
COALspot.com - The BDI continues to drop and saw a drop of about 5 pct this week closing at 1,370 points. “ In May 2010 the BDI touched ...
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- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- MS Steel International - UAE
- Planning Commission, India
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Australian Coal Association
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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