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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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Tuesday, 13 December 22
AUSTRALIA TO CAP PRICES OF COAL, GAS TO DRIVE DOWN ENERGY BILLS - REUTERS
Australia will cap coal and gas prices for a year in a bid to shave utility bills for households and businesses hit by soaring costs because of the ...
Tuesday, 13 December 22
YANCOAL AUSTRALIA TO PREPAY $459 MLN DEBT AS RECORD COAL PRICES BOOST CASHFLOWS - REUTERS
Coal miner Yancoal Australia Ltd. said on Friday it intended to prepay $459 million of its debt on or around Dec. 16, as elevated coal prices were ...
Tuesday, 13 December 22
WHY COAL LEADS THE RISE IN COMMODITIES THIS YEAR - MARKETWATCH
This year marked a resurgence for coal, often known — and loathed — by environmentalists as the dirtiest energy source, with prices mor ...
Thursday, 08 December 22
BIMCO TO REVISE WAR RISK CLAUSES
Work to revise the BIMCO War Cancellation Clause 2004, the BIMCO War Risks Clause for Time Chartering 2013 (CONWARTIME 2013) and the BIMCO War Risk ...
Thursday, 08 December 22
COAL ROYALTY PAYMENTS BOOST AUSTRALIAN STATE'S BUDGET FORECAST - REUTERS
Australia’s Queensland state on Wednesday forecast a record surplus for the current financial year, largely driven by higher royalty payments ...
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- Neyveli Lignite Corporation Ltd, - India
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- The Treasury - Australian Government
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- Bhatia International Limited - India
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
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- Trasteel International SA, Italy
- Thiess Contractors Indonesia
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- Meenaskhi Energy Private Limited - India
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- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
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- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- MS Steel International - UAE
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- The University of Queensland
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
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- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
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- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
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- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
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- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
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- Australian Commodity Traders Exchange
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- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
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- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
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