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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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Thursday, 09 November 23
GREEK AND CHINESE COMPANIES OWN 34% OF THE GLOBAL FLEET’S CARGO CAPACITY - BIMCO
“The global fleet of cargo carrying ships consists of around 61,000 ships with a deadweight capacity of about 2,200 million tonnes. The ships ...
Monday, 23 October 23
CHINA SEPT COAL OUTPUT HITS SIX-MONTH HIGH ON RISING POWER DEMAND - REUTERS
China’s September coal output rose 0.4% from August to the highest level since March, official data showed on Wednesday, on rising power dema ...
Monday, 23 October 23
INDIA COAL INVENTORIES DROP AT FASTEST PACE IN TWO YEARS, BOOSTING IMPORTS - REUTERS
Coal inventories at Indian power plants in the first half of October fell at their fastest rate in two years, an analysis of government data showed ...
Tuesday, 19 September 23
LNG SHIPPING STOCKS: THE ASIAN GROWTH UP-INDICES
Last week, the UP World LNG Shipping Index (UPI) gained 3.81 points or 2.51%, closing at 155.85 points. This index tracks the performance of LNG sh ...
Sunday, 10 September 23
GOLDMAN SACHS PREDICTS OIL PRICE TO HIT $100 ON OPEC CUTS - YAHOO FINANCE
Oil supply cuts by Saudi Arabia and Russia could lead to Brent crude jumping as high as $107 a barrel in 2024, Goldman Sachs Commodities Research h ...
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- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Anglo American - United Kingdom
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Bhatia International Limited - India
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