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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, 18 March 23
HEDGE TO OFFSET LNG VOLATILITY, TRADERS TOLD - BALTIC EXCHANGE
A shift in imports from Asia to Europe led to significant volatility in liquefied natural gas shipping last year, prompting industry experts to urg ...
Friday, 17 March 23
INDONESIAN COAL PRICE REFERENCE UP AROUND 2.17% IN MARCH 2023
COALspot.com: Indonesian Coal Price Reference up around 2.17% in March 2023.
According to the new HBA regulation No. 41.K/MB.0 ...
Saturday, 11 March 23
MARKET INSIGHT - INTERMODAL
Uncertainty over the recovery of Chinese demand, demand destruction in Europe, as well as weather conditions will pivot the LNG market this summer. ...
Wednesday, 08 March 23
INDONESIAN COAL REFERENCE PRICE FORMULA HAS OFFICIALLY CHANGED
Indonesian Minister of Energy and Mineral Resources has officially changed the guideline for determining the benchmark price for the sale of coal c ...
Thursday, 02 March 23
INDIA'S SEABORNE CRUDE OIL IMPORTS IN 2022 INCREASED BY 11.5% YOY - BANCHERO COSTA
2022 has turned out to be a very positive year for crude oil trade, despite the surging oil prices and risks of economic recession, Banchero Costa ...
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- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Australian Coal Association
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
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