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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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Tuesday, 11 April 23
OIL RISES ON CHINA STIMULUS EXPECTATIONS, WEAKER DOLLAR - REUTERS
Oil prices rose on Tuesday on expectations of potential economic stimulus by China, healthy demand in the rest of Asia and a drop in U.S. crude sto ...
Sunday, 09 April 23
CHINA’S BUSINESS INCOME REBOUND POINTS TO IMPROVING ECONOMY: OFFICIAL - XINHUA
Chinese businesses have posted a strong rebound in sales revenue since the beginning of this year in the latest signal of an improving economy.
...
Sunday, 09 April 23
COAL INDIA TO BOOST SUPPLIES TO INDUSTRIES AS UTILITIES’ INVENTORIES RISE - REUTERS
Coal India Ltd will increase supplies to industries, the world’s largest coal miner said on Wednesday as fuel inventories at utilities run by ...
Thursday, 06 April 23
MARKET INSIGHT - INTERMODAL
LNG Current Supply/Demand Dynamics
This year, LNG supply will likely exceed demand, so prices will need to decline to levels that will encourag ...
Sunday, 26 March 23
EUROPE’S RUSH TO LNG COULD TURN INTO 'WORLD’S MOST EXPENSIVE AND UNNECESSARY INSURANCE POLICY'- CNBC
Europe’s rapid buildout of liquefied natural gas infrastructure is on track to far exceed demand by the end of the decade, according to new r ...
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- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
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