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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 $26.67 billion last year, making up 17 percent of total exports.
Priyo said his association would ask the government to review the value-added law and recommend that the plan be implemented in phases while miners upgraded their downstream capability.
“The domestic demand for minerals is too small to absorb the potential excess of commodities,” he said. “If this regulation is enforced, big companies like Newmont, Aneka Tambang and Inco will be the ones affected the most.”
Gold miner Newmont Nusa Tenggara, a local unit of the giant US firm, said complying with the value-added law could prove to be problematic.
“We understand the spirit of the law, but our studies have shown that building a smelter is not economically feasible,” Kasan Mulyono, NNT’s spokesman, told the Jakarta Globe on Monday.
“Currently, there is a global shortage on smelter supplies as many smelters are operating under their capacity.”
Bambang Gatot Ariyono, the director of mining development at the Energy Ministry, was unavailable for comment.
Source: The Jakarta Globe (By:Faisal Maliki Baskoro)
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Friday, 04 November 22
CHINA EXPANDS COAL TERM CONTRACTS TO ALL MINES TO STABILIZE MARKET - REUTERS
China has expanded long-term thermal coal supply contracts for 2023 to all coal mines and asked power utilities to source more of their demand thro ...
Thursday, 03 November 22
HANDYSIZE VALUES MOVING UP IN OCTOBER, WHILE LNG VALUES SKYROCKET - VESSELSVALUE
Handysize values have increased this month across most ages, following a period of decline. Values for generic 10 year old Handysizes have moved up ...
Thursday, 03 November 22
EUROPEAN GAS SUPPLY SURPLUS, NOVEMBER HBA DOWN TO US$ 308.2 PER TON - ESDM
European gas supply conditions have a major influence in determining fluctuations in the Reference Coal Price (HBA). The November 2022 HBA recorded ...
Wednesday, 02 November 22
MARKET INSIGHT - INTERMODAL
Only five weeks before western sanctions’ full effect, uncertainty over energy has markets and governments on the edge. What was initially th ...
Tuesday, 01 November 22
CHINA COAL TRADE DISRUPTED BY COVID OUTBREAKS AS WINTER LOOMS - REUTERS
China’s strict COVID-19 policy is constraining coal supplies and pushing up prices, industry officials and traders say, just weeks before the ...
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- San Jose City I Power Corp, Philippines
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- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
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- Ministry of Transport, Egypt
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- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
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- Global Green Power PLC Corporation, Philippines
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- Karbindo Abesyapradhi - Indoneisa
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- Australian Coal Association
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- Global Coal Blending Company Limited - Australia
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- IHS Mccloskey Coal Group - USA
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- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Economic Council, Georgia
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- Agrawal Coal Company - India
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Wilmar Investment Holdings
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- Bhatia International Limited - India
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
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- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
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- The University of Queensland
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
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- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
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- Singapore Mercantile Exchange
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- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
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- Planning Commission, India
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- Independent Power Producers Association of India
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