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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, 13 February 24
WHAT IS THE OUTLOOK FOR THE NATURAL GAS SPOT PRICE IN 2024 AND 2025? EIA
We expect the U.S. benchmark Henry Hub natural gas spot price to average higher in 2024 and 2025 than in 2023, but to remain lower than $3.00 per m ...
Monday, 12 February 24
US THERMAL COAL EXPORTS HIT 5-YEAR HIGHS AND TOP $5 BLN IN 2023 - REUTERS
United States exporters of thermal coal earned more than $5 billion in 2023 as they shipped out more than 32.5 million metric tons of the high-poll ...
Tuesday, 06 February 24
NEW E-FUELS PROJECT TO MAKE INTERNATIONAL SHIPPING CLIMATE-NEUTRAL - RINA
Transport and trade on the ocean blue must be made much greener. This is the goal of the new €17 million European GAMMA project, where compani ...
Tuesday, 06 February 24
INDIA SEES ANNUAL COAL OUTPUT UP 10.9% IN 2024/25 - REUTERS
India expects domestic coal output to increase by 10.9% to 1.13 billion metric tons in the fiscal year ending March 2025, a senior government offic ...
Tuesday, 06 February 24
INDIA'S COAL PRODUCTION INCREASES BY 10.3% TO 99.73 MILLION TONNE IN JANUARY - PTI
The country’s coal output rose 10.3 per cent to 99.73 Million Tonne (MT) in January, over the same month in the previous fiscal.
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- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- PTC India Limited - India
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- The University of Queensland
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
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