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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, 18 November 22
REALITIES OF LOI LIABILITIES - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
The cargo misdelivery claim in Trafigura Maritime Logistics Pte Ltd v. Clearlake Shipping Pte Ltd (Miracle Hope) [2022] E ...
Tuesday, 15 November 22
CHINA SEES RISING COAL STORAGE AMID SUPPLY PUSH - XINHUA
Coal stockpiles at China’s power plants have seen considerable increases, ensuring energy supply for the winter, the country’s energy r ...
Tuesday, 15 November 22
SEABORNE THERMAL COAL PRICES START TO EASE, BUT PROCESS IS UNEVEN - REUTERS
Prices for seaborne thermal coal have started to drop as fears of a winter energy crunch ease, but the rate of decline has varied across the differ ...
Thursday, 10 November 22
INDIA: THERMAL PLANTS HAVE ADEQUATE COAL STOCKS AT 25.6 MILLION TONNES, SAYS GOVT - IANS
The coal stock with domestic dry fuel-based power plants, as on October 31, was 25.6 million tonnes, the government said, adding that the availabil ...
Tuesday, 08 November 22
OUTLOOK ON CHINA’S WEAKENED BASIC MATERIALS SECTOR CLOUDED BY POLICY SWINGS - FITCH RATINGS
Fitch Ratings expects basic materials demand in China to improve qoq in 4Q22, driven by seasonally higher construction activity, solid infrastructu ...
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- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Planning Commission, India
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
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