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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, 08 January 23
ELEVATED COAL PRICE A DRAG ON MARGINS OF DOMESTIC BASE METAL PLAYERS: ICRA
The increased price of coal continue to be a drag on the margin of domestic base metal players with no immediate relief in sight, rating agency ICR ...
Monday, 02 January 23
CHINA’S COAL CONSUMPTION TO PEAK BY 2035: REPORT - REUTERS
China’s primary energy consumption is likely to peak at nearly 6.03 billion tonnes of standard coal between 2030 and 2035, refining giant Chi ...
Thursday, 29 December 22
INDIA'S COAL DEMAND LIKELY TO PEAK BETWEEN 2030-2035: MINISTER - ANI
The demand for coal in India will continue and is likely to peak between 2030-2035, Union Minister of Coal, Mines, and Parliamentary Affairs Pralha ...
Thursday, 29 December 22
RIO TINTO AND PARTNERS COULD RECEIVE AS MUCH AS $450M IN GOVERNMENT COMPENSATION FOR COAL PRICE CAP - THE GUARDIAN
Compensation payments for the Gladstone power plant remain the sticking point in the federal government’s coal price cap compensation negotia ...
Wednesday, 28 December 22
MARKET INSIGHT - INTERMODAL
The United Nations Conference on Trade and Development (UNCTAD) published a Global Trade Update on December 13th highlighting that global trade wou ...
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- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Planning Commission, India
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- PTC India Limited - India
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
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