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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, 22 December 22
RUSSIAN OIL EXPORTS CRATER BY 54% IN THE FIRST FULL WEEK OF THE EU'S EMBARGO AMID A SHORTAGE OF TANKERS WILLING TO CARRY CARGOES - BUSINESS INSIDER
Since the European Union imposed its seaborne crude sanctions, Russian oil exports have tumbled by more than half, according to data compiled by Bl ...
Thursday, 22 December 22
CHINA TIGHTENS VERIFICATION OF SHIPS’ ENERGY CONSUMPTION DATA - GARD
From 22 December 2022, ships trading to Chinese ports must record their energy consumption data in accordance with the requirements of their Ship E ...
Thursday, 22 December 22
AN OVERVIEW OF THE LNG MARKET - VESSELSVALUE
LNG values have continued to strengthen, spurred by skyrocketing earnings that have surpassed last year’s record breaking peaks. In November, ...
Thursday, 22 December 22
COKING COAL SLUMPS AS TALKS ON AUSTRALIA-CHINA TRADE RIFT LOOM - REUTERS
Chinese coking coal futures dropped more than 3 per cent on Tuesday (Dec 20), extending losses, as supply of the steelmaking input might increase i ...
Thursday, 22 December 22
COAL AND GAS PRICE CAPS MAY COMPOUND POLITICAL RISK FOR AUSTRALIAN CORPORATES - FITCH RATINGS
Australia’s introduction of temporary price caps on domestic sales of gas and coal used for electricity generation will probably have limited ...
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- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- London Commodity Brokers - England
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
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