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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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Saturday, 22 January 11
POSSIBLE COAL EXPORT RESTRICTIONS ON INDONESIA UNLIKELY TO AFFECT CHURCHILL MINING - PROACTIVE INVESTORS
Proactive Investors reported that, Churchill Mining moved to reassure investors after a fall in its share price, stating that from talks with the au ...
Thursday, 20 January 11
INDONESIA MAY BAN LOW-QUALITY COAL EXPORTS FROM 2014 - BLOOMBERG
Bloomberg reported that, The Indonesian government plans to ban exports of coal with an energy value of less than 5,600 kilocalories a kilogram star ...
Thursday, 20 January 11
SUPRAS ARE DOING USD 7- 8K FOR INDONESIA-INDIA - FEARNBULK
Handy
Negative sentiment for forward positions in the Atlantic market due to lack of cargo availability and too many ballasters from the East. Con ...
Thursday, 20 January 11
ITMG TARGETS TO PRODUCE 25 MILLION TONS OF COAL THIS YEAR - BISNIS INDONESIA
Bisnis Indonesia reported that, Coal producer PT Indo Tambangraya Megah Tbk (ITMG) targets to produce 25 million tons of coal this year, a 13. ...
Thursday, 20 January 11
DRY BULK MARKETS FALL SEES NO END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Pundits indicating that the dry bulk market’s sentiment remains weak were justified, as the industry’s benchmark, the Baltic Dry Index ( ...
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- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- PTC India Limited - India
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Planning Commission, India
- McConnell Dowell - Australia
- Posco Energy - South Korea
- The University of Queensland
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
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