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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, 26 January 23
AUSTRALIA'S CORONADO GLOBAL SEES COAL PRICES RISING ON RESUMING CHINA IMPORTS - REUTERS
Australia’s Coronado Global Resources said on Tuesday resuming metallurgical coal imports to China would likely push sea-borne coal prices hi ...
Monday, 23 January 23
CHINA'S MAJOR COAL-PRODUCING PROVINCE ACCELERATES DIGITAL TRANSFORMATION - XINHUA
At Chindata Group’s big-data industrial park in Lingqiu County of Datong City, hundreds of thousands of servers are running round-the-clock t ...
Monday, 23 January 23
CHINA'S COAL-RICH PROVINCE SEES COAL PRODUCTION INCREASE IN 2022 - XINHUA
North China’s coal-rich province of Shanxi saw its coal production hit 1.31 billion tonnes in 2022, up 8.7 percent year on year, local author ...
Wednesday, 18 January 23
MARKET INSIGHT - INTERMODAL
From Feb 5, another price cap will be introduced to Russian fuels and oil products, adding to the one for crude oil, already in place from Dec. 3. ...
Tuesday, 17 January 23
FRAUD IS THE BIGGEST THREAT TO CARGO LOSSES - TT CLUB
The almost exclusive use of online facilities to process business transactions allows a myriad of fraudulent pursuits to find opportunities within ...
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- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
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- Economic Council, Georgia
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
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- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
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- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
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