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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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Friday, 07 January 11
DRY BULK MARKET ON A FREEFALL, AS THE NEW YEAR EARLY DAYS DONT BRING MANY CHEERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is facing its worst slump in more than two years, falling by 4.75% yesterday to reach 1,544 points, on top of an additional 4.2% ...
Thursday, 06 January 11
OVERSEAS & GENERAL SIGNS AGREEMENT TO EXPAND FOOTPRINT ON COAL LEASE IN INDONESIA - PROACTIVE INVESTORS
Proactive Investors reported that, Overseas & General (ASX: OGL) has entered into a joint operating agreement on the Jambi Coal Lease in Sumatra ...
Thursday, 06 January 11
BANPU EXPECTS ROSY 2011 AS COAL PRICES SKYROCKET - BANGKOK POST
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, expects minimal impact from the production stoppage at its Daning mine in China ...
Thursday, 06 January 11
COKING COAL CONTRACT PRICE MAY RISE 33% ON AUSTRALIAN FLOODS - BLOOMBERG
Bloomberg reported that, Steelmakers in Asia may be forced to pay as much as 33 percent more for hard coking coal after the worst floods in 50 years ...
Wednesday, 05 January 11
HIGHER COAL PRICES LIFT UP COAL STOCKS
Thermal coal price this month has gone up 5.63% to US$127.70 per ton today from mid last month at US$120.89 per ton.
Thermal coal price for next ...
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- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- MS Steel International - UAE
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- The University of Queensland
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
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