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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, 26 February 23
MAWANI AND JEDDAH CHAMBER SIGN AN AGREEMENT TO BUILD INTEGRATED LOGISTICS PARK
Press Release: The Saudi Ports Authority (Mawani) and Jeddah Chamber of Commerce and Industry have today inked an agreement to set up an integrated ...
Saturday, 25 February 23
INDONESIA IS STILL BY FAR THE TOP SUPPLIER OF COAL TO CHINA - 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, said ban ...
Wednesday, 22 February 23
MARKET INSIGHT - INTERMODAL
The short-term outlook of the global soybean market is currently pivoted by a combination of weather patterns that are affecting the harvest progre ...
Saturday, 18 February 23
OIL UNLIKELY TO BREAK ABOVE $100/BBL THIS YEAR, J.P.MORGAN SAYS –- REUTERS
Brent oil prices are unlikely to breach the $100 a barrel level this year, barring any significant geopolitical drivers, with OPEC+ potentially add ...
Saturday, 18 February 23
CHINA'S COAL PRICES FALL TO 1 YR-LOW, CLOUDING DEMAND AND IMPORT OUTLOOK - REUTERS
China’s thermal coal prices hit their lowest levels in a year this week on rising inventories as domestic mine production is recovering faste ...
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- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- White Energy Company Limited
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- VISA Power Limited - India
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
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