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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 $26.67 billion last year, making up 17 percent of total exports.
Priyo said his association would ask the government to review the value-added law and recommend that the plan be implemented in phases while miners upgraded their downstream capability.
“The domestic demand for minerals is too small to absorb the potential excess of commodities,” he said. “If this regulation is enforced, big companies like Newmont, Aneka Tambang and Inco will be the ones affected the most.”
Gold miner Newmont Nusa Tenggara, a local unit of the giant US firm, said complying with the value-added law could prove to be problematic.
“We understand the spirit of the law, but our studies have shown that building a smelter is not economically feasible,” Kasan Mulyono, NNT’s spokesman, told the Jakarta Globe on Monday.
“Currently, there is a global shortage on smelter supplies as many smelters are operating under their capacity.”
Bambang Gatot Ariyono, the director of mining development at the Energy Ministry, was unavailable for comment.
Source: The Jakarta Globe (By:Faisal Maliki Baskoro)
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Wednesday, 05 January 11
BUKIT ASAM TARGETS 20% BUY TO GROW COAL TRANSPORT CAPACITY - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesian coal producer Tambang Batubara Bukit Asam is considering buying an additional 20 percent stake in Bukit ...
Wednesday, 05 January 11
FLOODING IN AUSTRALIA WILL CAUSE COAL PRICES TO SPIKE AT LEAST 20 PERCENT
Rising coal prices are set to spike at least 20 per cent higher because of supply shortages due to severe flooding in Australia, adding cost pressur ...
Wednesday, 05 January 11
DRY BULK MARKET BEGINS NEW YEAR ON SOUR NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Seasonal factors like the worst flooding in Australia’s Queensland in half a century, coupled with thin trade activity has put the dry bulk ma ...
Tuesday, 04 January 11
THE WCI-CHINA ROUTE WAS TRADED IN THE MID US$ 10,000S - BRS DRY BULK
As reported by BRS Dry Bulk, after a stronger than expected performance in 2010, rates finished on a sombre note in December with the BDI at1,773 po ...
Tuesday, 04 January 11
BALI, INDONESIA HOST OF WORLD RENEWABLE ENERGY AND ENERGY EFFICIENCY CONFERENCE
Press Release - Indonesian Renewable Energy Society (METI – IRES) has launched the plan for organizing the international gathering ...
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- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- The University of Queensland
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Deloitte Consulting - India
- London Commodity Brokers - England
- Central Electricity Authority - India
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
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