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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 $26.67 billion last year, making up 17 percent of total exports.
Priyo said his association would ask the government to review the value-added law and recommend that the plan be implemented in phases while miners upgraded their downstream capability.
“The domestic demand for minerals is too small to absorb the potential excess of commodities,” he said. “If this regulation is enforced, big companies like Newmont, Aneka Tambang and Inco will be the ones affected the most.”
Gold miner Newmont Nusa Tenggara, a local unit of the giant US firm, said complying with the value-added law could prove to be problematic.
“We understand the spirit of the law, but our studies have shown that building a smelter is not economically feasible,” Kasan Mulyono, NNT’s spokesman, told the Jakarta Globe on Monday.
“Currently, there is a global shortage on smelter supplies as many smelters are operating under their capacity.”
Bambang Gatot Ariyono, the director of mining development at the Energy Ministry, was unavailable for comment.
Source: The Jakarta Globe (By:Faisal Maliki Baskoro)
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Friday, 02 December 22
INDONESIAN COAL PRICE REFERENCE PLUNGE TOWARD US$ 281.48 A TON AS DEMAND DROPS WORLDWIDE
COALspot.com: The cost of coal is falling so fast that it is beginning to put real money back in the pockets of end-users.
Indonesia ...
Wednesday, 30 November 22
INDONESIA’S BUMI RESOURCES TARGETS 2023 COAL OUTPUT OF 80 MLN TONNES - REUTERS
Indonesian coal miner PT Bumi Resources Tbk BUMI.JKis eyeing a 10% increase in output to 80 million tonnes next year amid expectations for more fav ...
Wednesday, 30 November 22
TANKERS: LONGER HAULS TO SUPPORT CONTINUED STRENGTH - BIMCO
Highlights
A rebound in the dirty tanker trade has led the Baltic Exchange Dirty Index (BDTI) to increase by 64% since our last report from mid ...
Wednesday, 30 November 22
MARKET INSIGHT - INTERMODAL
Shipping, although a conservative and innovation adverse industry, is currently in a transition period of digital transformation. According to a su ...
Tuesday, 29 November 22
INDIA TO RECEIVE FIRST LNG CARGO FROM INDONESIA’S TANGGUH LNG - REUTERS
India will receive its first cargo from Indonesia’s Tangguh liquefied natural gas (LNG) plant at the Dahej terminal on Monday, according to a ...
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- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Economic Council, Georgia
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Planning Commission, India
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Parliament of New Zealand
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- The University of Queensland
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
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