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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, 22 March 24
INDONESIA APPROVES 922.14 MLN T COAL PRODUCTION QUOTA FOR 2024, ABOVE TARGET - REUTERS
Indonesia has approved coal production quotas totalling 922.14 million metric tons for 2024, Bambang Suswantono, a senior official at the mining mi ...
Friday, 22 March 24
CHINA COAL INDUSTRY GROUP EXPECTS OUTPUT GROWTH TO SLOW IN 2024 - REUTERS
China’s coal output is expected to increase 36 million metric tons, or 0.8%, to about 4.7 billion tonnes in 2024, a Chinese coal industry gro ...
Monday, 18 March 24
THREE KEY TAKEAWAYS FROM OUR EUROPE GAS MARKETS SHORT-TERM OUTLOOK Q1 2024 - WOOD MACKENZIE
European gas prices are currently back to pre-crisis levels, but with a complex series of factors affecting future supply and demand, are they set ...
Wednesday, 06 March 24
INDONESIA AIMS TO FINISH MINING OUTPUT QUOTAS APPROVAL BY END-MARCH, OFFICIAL SAYS - REUTERS
Indonesia’s has approved the mining production quotarequests from more than 120mineral companies and aims to complete the approval process th ...
Monday, 04 March 24
IS YOUR GUARANTEE A GUARANTEE? NOTE TO SHIPOWNERS - GARD
KNOWLEDGE TO ELEVATE
The law of guarantees is not always obvious or easy to understand without proper guidance. This article clarifies the dif ...
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Showing 26 to 30 news of total 6871 |
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- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Planning Commission, India
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Electricity Generating Authority of Thailand
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