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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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Monday, 19 December 22
ENERGY CRISIS FUELS COAL COMEBACK IN GERMANY - REUTERS
Coal has made a comeback in Germany this year, as Europe’s largest economy turns to the dirty fuel to power it through an energy crisis.
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Thursday, 15 December 22
MARKET INSIGHT - INTERMODAL
While observing the ship repair market very close to the end of the year, we are confident that shipyards worldwide are entering a new era. The nex ...
Tuesday, 13 December 22
STRONG COAL PRICES SUPPORT ROBUST EARNINGS AT INDONESIAN COAL MINERS - FITCH RATINGS
Fitch Ratings expects cash flow generation at Indonesian coal miners to remain strong in 2023, based on its forecast for coal prices to remain high ...
Tuesday, 13 December 22
BIMCO CII CLAUSE FINALLY RELEASED: DOES IT MAKE ANY SENSE OF CCI? - WFW
WHAT IS CII?
The new International Maritime Organisation’s (“IMO’s”) Carbon Intensity Indicator (“CII”) cer ...
Tuesday, 13 December 22
COAL BASE RAMPS UP ENERGY SUPPLY FOR WINTER NEEDS - XINHUA
Inner Mongolia Autonomous Region, China’s leading coal production base, has kicked its production into high gear to meet heating needs as col ...
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- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Parliament of New Zealand
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- VISA Power Limited - India
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Australian Coal Association
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
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