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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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Monday, 08 January 24
KOSPO TO BUY 80000 MT OF INDONESIAN LOW CALORIFIC VALUE COAL FOR FEB 2024
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for the supply of Indonesian Low Calorific Value Coal from qualified suppliers for Korean ...
Monday, 08 January 24
SEABORNE TRADE REACHES 12.4BN TONNES - CLARKSONS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
Monday, 08 January 24
CAPESIZES START THE NEW YEAR ON POSITIVE NOTE - BALTIC EXCHANGE
Capesize
This week the capsize market has been marked by a mix of activities and challenges. Despite a slow start following the Christmas and N ...
Friday, 05 January 24
MORGAN STANLEY SEES LOWER OIL PRICES IN 2024 ON OVERSUPPLY CONCERNS - REUTERS
Morgan Stanley sees Brent crude prices anchored near $80 per barrel in the first half in 2024 before declining towards the end of the year as it ex ...
Friday, 05 January 24
INDIA'S COAL OUTPUT RISES NEARLY 11 PC IN DEC TO 92.87 MT - PTI
India’s coal production increased by 10.75 per cent to 92.87 million tonne in December 2023 as compared to the year-ago period, an official s ...
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- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Thiess Contractors Indonesia
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- White Energy Company Limited
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- PTC India Limited - India
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
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