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Wednesday, 22 January 14
EXPORT BAN ON UNPROCESSED MINERALS EFFECTIVE 12 JANUARY 2014 - THREE - YEAR REPRIEVE FOR SOME, BUT UNCERTAINTY REMAINS: PWC
 COALspot.com: On 11 January 2014, only hours before a long-debated ban on the export of unprocessed minerals was to come into effect, the Government released a series of regulations, seen by many as a compromise position between a full ban and allowing exports of unprocessed ores to continue unabated. The last minute reprieve for producers of certain types of mineral concentrates is available only until 11 January 2017, and comes with strict requirements to show a commitment to building refining facilities (either individually or in cooperation with others), as well as an obligation to pay large and progressively increasing export tariffs, ranging from 20% up to 60% of export revenues.
The Government seems to have heeded the warnings from many sources of the potentially significant negative short-term impact on the economy of a full export ban – particularly in relation to copper concentrates. It has been asserted by many for some time that building additional copper refining capacity in Indonesia is not currently economically feasible, and a full ban on unrefined copper would result in scaled-back production by some of the country’s largest mineral exporters, with resultant job losses, and reduced dollar-denominated export revenues, at a time when Indonesia’s current account and currency are under pressure.
However, the temporary nature of the exception for certain mineral concentrates, and the very heavy export duties imposed, may not achieve the stated outcome hoped for by the Government, which is encouraging investment in refining facilities. Government regulation alone does not improve the economic feasibility of a project, and the heavy export duties may impact both the feasibility of continuing to export over the next three years, as well as the cash flows available for investment in refining capability.
A further concern is that the regulations make clear that they apply both to IUPs (or mining business licences) as well as Contracts of Work (CoWs). CoW holders are likely to question the applicability of newly-promulgated regulations and taxes given the lex specialis nature of their contracts – something which is bound to result in more uncertainty and investment delays in the Indonesian mining sector.
It is yet to be seen how the industry and the Government will respond to these challenges.
- Sacha Winzenried & Fandy Adhitya -
About Sacha Winzenried & Fandy Adhitya
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| Sacha Winzenried |
Fandy Adhitya |
Sacha Winzenried is the lead technical adviser, and Fandy Adhitya a director, in PwC Indonesia’s Energy, Utilities & Mining practice.
They are responsible for the production of mineIndonesia, PwC Indonesia’s annual review of trends in the Indonesian mining sector, which can be obtained at www.pwc.com/id.
Views and opinions / conclusion expressed herein are personal views of the author and not that of COALspot.com.
If you believe an article violates your rights or the rights of others, please contact us.
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Thursday, 25 January 24
THE RED SEA ESCALATION IMPLICATIONS ON GLOBAL SEABORNE TRADE - MARIA BERTZELETOU
In recent days, discussions have intensified about the potential impact on the seaborne trade and ton-miles due to the evolving dynamics of market ...
Thursday, 25 January 24
RED SEA SHIPPING DISRUPTIONS KEEP GEOPOLITICAL PREMIUM FOR COMMODITIES - FITCH RATINGS
Shipping disruptions and re-routing away from the Red Sea will maintain the geopolitical premium in the main commodity markets, including for oil a ...
Friday, 19 January 24
INDONESIA TARGETS 710 MLN METRIC TONS COAL OUTPUT IN 2024 AFTER RECORD 2023 - REUTERS
Indonesia, a major thermal coal exporter, aims to produce 710 million metric tons of coal in 2024, its mining minister said on Monday, after postin ...
Friday, 19 January 24
DRUMMOND COLOMBIA COAL OUTPUT ROSE 7.1% IN 2023 - REUTERS
Coal production from miner Drummond’s Colombia operations rose 7.1% in 2023 to 29.5 million metric tons, while exports declined by 2.6% to 27 ...
Friday, 19 January 24
CHINA'S 2023 COAL OUTPUT HITS RECORD HIGH - REUTERS
China’s coal output reached a record high in 2023, data from the statistics bureau showed on Wednesday, amid an ongoing focus on energy secur ...
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- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Australian Coal Association
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Minerals Council of Australia
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
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