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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, 02 August 24
COAL MARKET DEVELOPMENTS: FALLING PRICES AMID RECORD-HIGH OUTPUT - WORLD BANK
Coal prices inched up in May (m/m) following an 8 percent decline in 2024Q1. The Australian and South African benchmarks have plummeted more ...
Friday, 26 July 24
FUELEU MARITME IS COMING. IS YOUR CHARTERPARTY READY? - GARD
With less than six months to implementation of FuelEU Maritime in EU and EEA trades, there has been little published advice regarding how to alloca ...
Thursday, 04 July 24
INDIA'S COAL PRODUCTION RISES 14% IN JUNE - PTI
The country’s coal production rose by 14.49% to 84.63 million tonne (MT) in June. The country’s coal output was 73.92 MT in June last f ...
Tuesday, 02 July 24
NTPC CAPTIVE COAL OUTPUT GROWS 15% IN Q1; DESPATCH RISES 17%
State-owned NTPC on Monday reported a 15 per cent year-on-year increase in the production of coal from captives mines to 9.862 metric million tonne ...
Friday, 28 June 24
KOSPO INVITED BIDS FOR 400,000 MT OF MINIMUM 4000 NCV COAL FOR FIVE YEARS
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for total 400,000 MT of Low Calorific Value Coal for 5 years starting from July 2024 until ...
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- Economic Council, Georgia
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- London Commodity Brokers - England
- The University of Queensland
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- White Energy Company Limited
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Minerals Council of Australia
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- MS Steel International - UAE
- Indian Energy Exchange, India
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