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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, 19 January 11
DRY BULK MARKET HAS BOTTOMED OUT, AS WEATHER IN AUSTRALIA DIALS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has finally halted its plunge, after a devastating week of yet more losses. The industry’s benchmark, the Baltic Dry Index ...
Tuesday, 18 January 11
MINISTRY SEEKS COAL FROM INDONESIA - SUNDAY OBSERVER
Sunday Observer reported that, Ministry of Power and Energy is to explore the possibilities of importing quality coal from Indonesia.
Minister Pa ...
Tuesday, 18 January 11
DRY BULK MARKET HAS BOTTOMED OUT, AS WEATHER IN AUSTRALIA DIALS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has finally halted its plunge, after a devastating week of yet more losses. The industry’s benchmark, the Baltic Dry Index ...
Sunday, 16 January 11
STANCHART GLOBAL RESEARCH SEES COAL PRICE RISING ON SUPPLY DISRUPTION - BURSA MALAYSIA MARKET NEWS
Bursa Malaysia Market News reported that, Standard Chartered Global Research has upgraded its 2011 forecasts for global thermal coal prices based on ...
Saturday, 15 January 11
SUPRAMAX VESSELS FIXED AROUND $ 8K FOR TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The BDI continues to drop and has touched below 1,500 points with the cape index severely affected with the index touching 1,595 poin ...
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- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- London Commodity Brokers - England
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Central Electricity Authority - India
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- The University of Queensland
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Sical Logistics Limited - India
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
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