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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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Thursday, 02 March 23
DRY BULK MARKET: THE WAY CHINA GOES, SO GOES THE MARKET - BIMCO
We expect demand growth within the 1.5-2.5% range in 2023, driven by China’s economic recovery. Improvements in consumer sentiment should hel ...
Thursday, 02 March 23
INDIA, CHINA DEMAND BOOST LOW-RANK THERMAL COAL PRICES IN ASIA - RUSSELL, REUTERS
Signs of stronger import demand from India have arrested the decline in price of the thermal coal grades most commonly sought by the world’s ...
Thursday, 02 March 23
INDIA CHEERS THE RETURN OF ‘KING COAL’ AS INDUSTRY SEES BUOYANT FUTURE - REUTERS
India’s coal industry celebrated the return of its major conference after a three-year pandemic hiatus by presenting a bullish view of demand ...
Wednesday, 01 March 23
GEO CONNECT ASIA RETURNS IN MARCH TO ACCELERATE THE REGION’S GEOSPATIAL AND LOCATION INTELLIGENCE CAPABILITIES
Press Release: The third edition of GCA will be held in conjunction with Digital Construction Asia and the inaugural Drones Asia – an event d ...
Wednesday, 01 March 23
THE DECLINE IN THE COAL PRICE SINCE THE BEGINNING OF THE YEAR HAS BEEN SIGNIFICANT - INTERMODAL
Last week, the front-month API2 future rose by 3.5%, but since the beginning of the year the future has fallen by 39% to $136.65/t, while the Newca ...
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- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- MS Steel International - UAE
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
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