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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, 23 February 24
STRONG OUTLOOK FOR THE TANKER MARKET IN 2024 AND BEYOND - DNV
Several factors have aligned over the past two years to create a robust and profitable market for tanker owners, which is expected to drive newbuil ...
Friday, 23 February 24
AUSTRALIAN COAL FLOWS TO ASIA HOVER ABOVE LAST YEAR’S VOLUME TONNES - SIGNAL GROUP
In the final days of February, the dry bulk freight market appeared to maintain a relatively stable momentum, particularly evident in the large ves ...
Friday, 23 February 24
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Thursday, 22 February 24
BIMCO PUBLISHES SHIP FINANCING FORMS TO ENSURE UNINTERRUPTED USE OF SHIPS
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Monday, 19 February 24
METALS INVESTMENT: THE DARKEST HOUR IS JUST BEFORE THE DAWN - WOOD MACKENZIE
Things often seem at their worst just before they get better. In terms of meeting our net zero 2050 scenario, we’ve reached a watershed momen ...
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- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- GMR Energy Limited - India
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
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