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Tuesday, 02 June 09
GOVT FINALIZING DMO MECHANISM, REFERENCE PRICE FOR COAL - THE JAKARTA POST
 Indonesia, the world's largest thermal coal exporter, is finalizing regulations on a reference price on coal, on a domestic market obligation (DMO) for mining firms and the establishment of an independent agency to manage it, says a minister.
The regulations should be ready to be implemented next year, Energy and Mineral Resources Minister Purnomo Yusgiantoro said on Monday during the Coaltrans Asia conference in Bali.
"As a follow up to the Law No. 4/2009 on mineral and coal mining, the government will produce a number of government regulations, which will among other things, cover the DMO policy. To implement the DMO policy, the government will appoint an agency to manage it," Purnomo said.
He said the agency might not be formed as a state owned agency; but he did not give further details on the setting up and tasks of such an agency.
The DMO policy, whose implementation has been delayed from its initial startup plan earlier this year, would require coal producers to allocate 35 to 40 percent of their coal production to the domestic market, in line with the local market's increasing demand for coal, in particular from power plants.
The policy would also result in the allocation of licenses for any coal mining firm doing business in Indonesia, replacing the old work contract-scheme, he added.
In relation to the upcoming new government regulations, he further said, the government would also publish the Indonesian Coal Reference Price (ICRP) as the basis to calculate state revenues from royalties.
"The ICRP would be formed based on a coal price index, which should be applied to all coal production," said Purnomo, adding that the price could also be taken into consideration by any two trading parties to renegotiate their contract.
"The coal price will be used to determine and optimize government revenue from coal production. In future, you can use this coal price as a reference value."
Bloomberg reported that the formula for the reference price will be determined based on a coal price index and will take into account the calorific value and moisture content of the product. Higher calorific values and lower moisture content may translate into improved prices.
Bloomberg calculates that the government earns 35 percent of its revenue from the oil, gas and minerals industry, and of that, 4 to 5 percentage points are from minerals.
According to an annual report by Indonesia Mining in 2008, listed coal companies generated a significant increase in profits.
The 2008's net profits in all listed coal companies in Indonesia reached around US$1.2 billion compared to $1 billion in the previous year.
Meanwhile for mineral companies, net profits declined to around $2.3 billion last year from $4.2 billion in 2007.
In the first quarter, Indonesia could not meet coal production targets due to problems, including heavy rain, an energy and mineral resources ministry director said.
Bambang Gatot Ariyono, director for coal and mineral development at the ministry, has said coal production in the first quarter of this year was only 30 million tons or lower than the initial target of 50 million.
The government however remains optimistic it will be able to produce the targeted 220 million tons by the end of the year.
Bambang Setiawan, the Ministry's director general for mineral resources, coal and geothermal affairs, said Indonesia's total coal production may exceed 300 million tons per year by 2025.
Source: http://www.thejakartapost.com/news/2009/06/02/govt-finalizing-dmo-mechanism-reference-price-coal.html
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Saturday, 06 June 09
IS THE RECESSION OVER ? - CAPT. REDDY, VISTAAR SHIPPING
COALspot.com (Singapore): Is the recession over, that is what most analysts think and seems so from the Baltic Index rally and firm commodity ...
Saturday, 06 June 09
COAL PRICE HIT RECORD ON STRONG CHINA DEMAND - INVESTMENT WATCH
Investment watch reported that, “Coal price hit a new high of over $72 a tonne at Australia’s Newcastle Port, a benchmark for Asia, spur ...
Friday, 05 June 09
CEMENT INDUSTRY NEEDS POLICY ON FLY ASH
H.M. Bangur, President of Cement Manufacturers' Association, on the objectives and economic impact of the proposed national policy on utilisation o ...
Thursday, 04 June 09
PAKISTAN TO IMPORT MORE COAL FROM INDONESIA - SEATRADE
COALspot.com (Pakistan): Richards bay to Pakistan sea freight has touched US$ 20.00 for 40,000/10 pct steam size in June 2009. South African c ...
Thursday, 04 June 09
CHINA'S SHANXI PROVINCE CONSIDERS COAL FUTURES BOURSE - MINE WEB
Mine Web reported that, China hopes to establish a coal futures exchange to obtain more rights on international pricing.
China's largest coal pr ...
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- Petron Corporation, Philippines
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- The University of Queensland
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- Deloitte Consulting - India
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- Ministry of Finance - Indonesia
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- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
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- Eastern Energy - Thailand
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- Indian Oil Corporation Limited
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- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
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- Star Paper Mills Limited - India
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- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
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- IEA Clean Coal Centre - UK
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- Gujarat Mineral Development Corp Ltd - India
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- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
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- New Zealand Coal & Carbon
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- Bangladesh Power Developement Board
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- Renaissance Capital - South Africa
- GMR Energy Limited - India
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- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
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- Latin American Coal - Colombia
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- Mercuria Energy - Indonesia
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- Bharathi Cement Corporation - India
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- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
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- Economic Council, Georgia
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- Tata Chemicals Ltd - India
- Parliament of New Zealand
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- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
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- Singapore Mercantile Exchange
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- Mintek Dendrill Indonesia
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- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
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- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
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- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
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- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
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- Chamber of Mines of South Africa
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- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
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- London Commodity Brokers - England
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