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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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Friday, 05 January 24
BANGLADESH’S 2023 COAL-FIRED POWER OUTPUT TRIPLED, EASING SHORTAGES - REUTERS
Bangladesh nearly tripled its coal-fired power output in 2023, a Reuters analysis of government data showed, helping it tide over the worst power s ...
Tuesday, 02 January 24
COAL TRADE CONTINUES TO HEAD EAST - BALTIC EXCHANGE
The global coal trade, once concentrated in the Pacific and Atlantic basins, is undergoing a significant transformation, as highlighted in the Inte ...
Tuesday, 02 January 24
COAL CARGOES: AVOIDING EXPLOSION AND SELF-HEATING - GARD
KNOWLEDGE TO ELEVATE
Despite its contribution to greenhouse gas emissions, global coal consumption climbed to an all-time high in 2022 and is ...
Tuesday, 02 January 24
SINOPEC FORECASTS CHINA’S COAL CONSUMPTION TO PEAK AROUND 2025 - REUTERS
China Petrochemical Corp, or Sinopec, expects coal consumption to peak around 2025 at 4.37 billion metric tons, the state energy group said in an o ...
Thursday, 07 December 23
CHINA TO SET UP COAL PRODUCTION RESERVE TO STABILISE PRICES - REUTERS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
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- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Minerals Council of Australia
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- The University of Queensland
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Wilmar Investment Holdings
- VISA Power Limited - India
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Planning Commission, India
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Economic Council, Georgia
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
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