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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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Saturday, 25 March 23
COAL INDIA HAS STRONG CASE TO INCREASE PRICES, TALKS ON: CMD AGRAWAL - BUSINESS STANDARD
Coal India (CIL) Chairman and Managing Director Pramod Agrawal said on Monday there is a “strong case” for increasing coal prices, and ...
Saturday, 25 March 23
ASIAN CRUDE PALM OIL WATCH 1Q23 - FITCH RATINGS
Malaysian benchmark crude palm oil (CPO) spot prices have averaged around USD915 per tonne (t) so far in 1Q23, sharply lower than the average of ar ...
Saturday, 25 March 23
INDONESIA’S COAL EXPORT INCREASED BY 21.0% YOY TO 388.4 MLN T IN 2022 - BANCHERO COSTA
After a slow start in the first quarter, global coal trade has really picked up pace last year, and is now fully back to pre-Covid levels. In the f ...
Saturday, 25 March 23
GLOBAL LNG-ASIA SPOT PRICES SLIP AS WEAK NORTHERN DEMAND REMAINS - REUTERS
Asian spot prices of liquefied natural gas (LNG) declined this week, falling to a 21-month low, as weak demand in the northeast Asia region continu ...
Wednesday, 22 March 23
OIL PRICE FALL SPECULATIVE, TO HIT $140 BY YEAR-END -ANDURAND: REUTERS
The recent fall in oil prices due to banking jitters is speculative and oil will hit $140 a barrel by the end of the year, hedge fund manager Pierr ...
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- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Planning Commission, India
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
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