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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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Sunday, 16 April 23
CHINA JUGGLES FOUR MAJOR ECONOMIC CHANGES IN 2023 - WOOD MACKENZIE
Change is afoot in China. Economic growth is slowing, while rising political tensions between China and the US, coupled with global supply chain re ...
Sunday, 16 April 23
CHINA'S MARCH COAL IMPORTS JUMP TO 3-YEAR HIGH - REUTERS
China’s coal imports surged in March to their highest in any month over the past three years as utilities increased purchases on expectations ...
Sunday, 16 April 23
OPEC KEEPS WORLD OIL DEMAND GROWTH OUTLOOK UNCHANGED
The OPEC Reference Basket (ORB) declined in March by $3.43, or 4.2%, m-o-m to average $78.45/b. The ICE Brent first-month contract fell by $4.33, o ...
Sunday, 16 April 23
CHEAPER SPOT LNG PRICES TEMPT SOME ASIAN BUYERS AMID SUPPLY GAINS - REUTERS
Cheaper spot prices for liquefied natural gas (LNG) are luring price-sensitive buyers back in Asia, with China and India recording rising imports i ...
Tuesday, 11 April 23
COAL USE CLIMBS WORLDWIDE DESPITE PROMISES TO SLASH IT - AAP
The burning of coal for electricity, cement, steel and other uses went up in 2022 despite global promises to phase down the fuel that is the bigges ...
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- Mercuria Energy - Indonesia
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- The University of Queensland
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
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