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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, 29 November 22
SEABORNE COAL FLOWS IN 2022 - SIGNAL
This year is crucial for the energy mix in European countries, as the EU has imposed new sanctions on Russia. It is important to emphasize that the ...
Friday, 25 November 22
APAC THERMAL COAL PRICES CORRECT FROM RECORD HIGH - FITCH RATINGS
Prices of Newcastle 6,000kcal/kg coal have corrected following falling European gas and coal prices, and more supply from Australia could help miti ...
Thursday, 24 November 22
VIETNAM BOOSTS COAL USE PLAN FOR 2030 AS G7 CLIMATE OFFER STALLS - REUTERS
Vietnam has increased its coal power target for 2030 under a revised draft energy plan, government documents seen by Reuters show, while renewables ...
Tuesday, 22 November 22
THE GENCON 2022 CHARTERPARTY - GARD
KNOWLEDGE TO ELEVATE
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Tuesday, 22 November 22
INDIA POWER BINGES ON COAL, OUTPACES ASIA - REUTERS
India’s coal-fired power output has increased much faster than any other country in the Asia Pacific since Russia’s invasion of Ukraine ...
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- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Agrawal Coal Company - India
- Australian Coal Association
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- White Energy Company Limited
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
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