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Friday, 06 December 13
INDONESIAN PARLIAMENT REJECTED A GOVERNMENT PROPOSAL TO EASE THE BAN ON EXPORTING UNPROCESSED ORE
 COALspot.com: Indonesian House of Representatives rejected a proposal from Energy and Mineral Resources Minister Jero Wacik on to ease the ban on exporting unprocessed ore by 12 January 2014.
The Energy and Mineral Resources Minister Jero Wacik has proposed to house, that mining companies showing a strong commitment to build domestic smelters should be exempted from the ban staring from 12 January 2014.
However, House Commission VII of Indonesian parliament overseeing energy and mineral resources rejected the proposal, saying that mining firms had been given plenty of time to build smelters, but had failed to show concrete action.
Indonesian mining companies are facing shutdown after the House of Representatives rejected a government proposal to ease the ban on exporting unprocessed ore, which is set to take full effect at the beginning of next year. If implemented as planned, the ban on exporting raw ore could cripple the country’s mining sector, as most firms, including giants Freeport Indonesia and Newmont Nusa Tenggara (NNT), do not process most of their ore in local smelters, as quoted by local English news paper, the Jakarta Post.
Indonesian Mining Business Association (Apemindo) executive director Ladjiman Damanik said that the House’s rejection of the proposal was a big blow for miners and massive layoffs would ensue, as miners unable to comply with the new law would have to cease operating, as quoted by paper.
The 2009 Mining Law requires mining companies in Indonesia to process ore in domestic smelting facilities starting in January 2014 or face ban on exporting raw ore.
If implemented fully as planned, shipping industry also will be affected significantly. Recently, Indonesia Ore exports contributed significantly to shipping industry to keep the shipping freight stable.
Observers have said that the raw ore export ban would seriously dent the country’s export earnings and widen the country’s trade deficit. Government revenue would also take a big hit, as taxes and royalties from mining companies would decline significantly, the Jakarta post further said in its today's edition.
According to JP, Freeport Indonesia, the local subsidiary of American mining giant Freeport McMoRan Copper and Gold, has warned that it could shut down its mining operations in Timika, Papua if the ban was implemented without exception. Currently, Freeport Indonesia, which employs about 24,000 workers, ships about 40 percent of its annual production of around 2.5 million tons of copper concentrates to its partly owned smelter PT Smelting in Gresik, East Java.
According to JP, the mining giant has agreed to process the larger part of its concentrate in two other local smelting plants, which are now under feasibility studies. The two smelters are scheduled to begin commercial operation in 2017.
Government has also considered to ban export of low calorific value coal under the said law. However it is not clear that, whether the low calorific value coal export ban also will be followed by unprocessed ore export ban by 12 January 2014 or not.
If the law fully implemented, despite of lost of huge income in form of taxes and royalties from mining sector, the world may see a significant corrections in Ore prices as well as ocean freights.
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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
RUSSIAN COAL SHIPMENTS FALL 14% AS SANCTIONS BITE - BIMCO
During the first seven weeks of 2024, Russian coal shipments have fallen 14% y/y. Volumes have gradually declined since October 2023 when logistica ...
Thursday, 22 February 24
BIMCO PUBLISHES SHIP FINANCING FORMS TO ENSURE UNINTERRUPTED USE OF SHIPS
BIMCO has published two standard Quiet Enjoyment Letters (QELs), the first standard form QELs available to the industry, to offer a tool that can e ...
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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- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- The University of Queensland
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Central Java Power - Indonesia
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
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