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Tuesday, 23 August 11
ICMA CALLS GOVERNMENT TO REVIEW EXPORT BAN REGULATION
.jpg) COALspot.com - Chairman of the Indonesian Coal Mining Association (ICMA) Bob Kamandanu asks the government to review the regulation that being drafted to ban the export of coal with a quality below 5700 kcal/kg on air dried basis. If the coal producers do not increase the heating energy above 5700 kcal/kg, it will be banned for export market.
"Impact of the such policy may be substantial and negative, particularly for capital markets and the economy of Indonesia", said chairman of ICMA.
Ministry of Energy and Mineral Resources of Indonesia is in the process of drafting a regulation which is requiring mine owners to improve the value of their coal by upgrading to a minimum level of 5700 kcal/kg on adb basis, if the mine is producing the coal below 5700 GAD. According to the latest draft regulation, Indonesian coal producers must add value for their coal by processing their product to a higher-grade coal.
"We are very confident the government will not arbitrarily issue a regulation without a strong reason to ban the export of coal with calorific value below 5700 kcal/kg. We request the government for review. They should consider all perspectives from all the angles as the impact may shake up the Indonesian capital market and economy”, He said as contacted for comments by COALspot.com, today.
Association, Bob continued, invites the government to sit together to discuss the government plan on coal export ban. If the government wants to conserve, the better policy is focused on it. Similarly, if the aim is to increase the value added or increased government revenues.
Currently, the ICMA has asked Association of Indonesian Mining Experts (Perhapi) to conduct a thorough study both in terms of economic, social, and technology. The results of this study will be independent and study is expected to complete by end September 2011.
According to Chairman of ICMA, the government plans to ban the export of coal with calorific value below 5700 kcal / kg (adb) is too hasty. "If the ban, impact negatively on the economy, then who is responsible," asked Bob.
He believes that the government plans to ban below 5700 kcal/kg coal is limited to just an idea. Moreover, so far there is no coal upgrading technology is available, which is economically and commercially proven & viable.
However, if the regulation is implemented, then the impact will be tremendous, because there are 150 million tons of coal low calorific value coal that cannot be exported. Moreover, Indonesia's domestic market could absorb around 100 million of low calorific value coal in 25 years.
According to Bob, even though the government has revealed a variety of incentives, the association continued to see the policy will be hit by the absence of a commercially and technically proven technology for upgrading the coal. Moreover, the cost to buy such a technology is and is around US$ 250 million and the operational cost also around US$ 15 million. At such a high cost, Bob assess that , the government policy is to the advantage of the countries that developing or manufacturing such technologies.
Accordingly, he requested that the government must abolished it plan completely, or if they want to introduce, then the regulations can come on the effect when the commercially and technically proven technology identifies and implemented.
To contact the reporter responsible on this story: Efendi at efendi@coalspot.com
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Monday, 22 August 11
MACRO ECONOMICS - PETER SAND BIMCO / HELLENIC SHIPPING
The US is jeopardising the global recovery as job creation remains top challenge across the board.
Global economy: While growth in most emerging ...
Sunday, 21 August 11
SUPRAMAX AVAILABILITY WAS TIGHT DUE TO UPCOMING RAMADAN HOLIDAYS
COALspot.com - The financial markets have been in turmoil with all major stock exchanges down and uncertainty prevails. However the shipping market ...
Sunday, 21 August 11
TUAH TURANGGA ACQUIRES DUTA NURCAHYA
Coal miner PT Tuah Turangga Agung, a wholly owned subsidiary of PT United Tractors Tbk (UNTR) via PT Pamapersada Nusantara), has agreed to acquire 6 ...
Friday, 19 August 11
INDIAS CICTL HAS ACHIEVED ONE MILLION TONS OF DISCHARGE
COALspot.com - Chettinad International Coal Terminal (CICTL) in Ennore port, a state of the art mechanized coal terminal, which was inaugurated on 28t ...
Friday, 19 August 11
AUSTRALIAS' ATH TO ACQUIRE 60% OF APUAH COAL MINE IN INDONESIA
COALspot.com - Australian listed company, Atech Holdings Limited (ATH) has entered into a conditional binding term sheet to acquire 60 percent stake ...
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- Chamber of Mines of South Africa
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- Baramulti Group, Indonesia
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- Posco Energy - South Korea
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- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
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- White Energy Company Limited
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- The Treasury - Australian Government
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
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- Binh Thuan Hamico - Vietnam
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- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
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