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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 $26.67 billion last year, making up 17 percent of total exports.
Priyo said his association would ask the government to review the value-added law and recommend that the plan be implemented in phases while miners upgraded their downstream capability.
“The domestic demand for minerals is too small to absorb the potential excess of commodities,” he said. “If this regulation is enforced, big companies like Newmont, Aneka Tambang and Inco will be the ones affected the most.”
Gold miner Newmont Nusa Tenggara, a local unit of the giant US firm, said complying with the value-added law could prove to be problematic.
“We understand the spirit of the law, but our studies have shown that building a smelter is not economically feasible,” Kasan Mulyono, NNT’s spokesman, told the Jakarta Globe on Monday.
“Currently, there is a global shortage on smelter supplies as many smelters are operating under their capacity.”
Bambang Gatot Ariyono, the director of mining development at the Energy Ministry, was unavailable for comment.
Source: The Jakarta Globe (By:Faisal Maliki Baskoro)
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Wednesday, 12 January 11
BULKER DELIVERIES WEIGHING IN ON FREIGHT RATES KEEPING SENTIMENT ON A NEGATIVE MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A flurry of new buildings still hitting the water has caught up for good with the freight market, with capesizes unable to weather the storm. With r ...
Tuesday, 11 January 11
SUPRAMAX TRIP VIA INDONESIA TO INDIA US$ 8,000 PER DAY
Despite continued growth in the bulk trades, the delivery of new vessels is beginning to take its toll. The BDI continued its decline, finishing las ...
Tuesday, 11 January 11
DRY BULK MARKET REACHES NEW LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s benchmark index, the Baltic Dry Index (BDI) lost further ground in the beginning of the week, following the trend of the ...
Monday, 10 January 11
MINING INVESTMENT TARGET TOO LOW - TEMPO INTERACTIVE
TEMPO Interactive reported that, the Indonesian Mining Association’s executive director, Priyo Pribadi, believes the government’s invest ...
Monday, 10 January 11
COAL MONGOLIA IS INVITING YOU TO THE INTERNATIONAL COAL SECTOR INVESTORS CONFERENCE
COALspot.com - (Press Release) - The Coal Mongolian Conference will take place at Chinggis Hotel, in Ulaanbaatar on 24-25, Feb 2011. The coal bonanz ...
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- GMR Energy Limited - India
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Minerals Council of Australia
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
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- Central Electricity Authority - India
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
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- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
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- PTC India Limited - India
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
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