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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, 02 August 24
COAL MARKET DEVELOPMENTS: FALLING PRICES AMID RECORD-HIGH OUTPUT - WORLD BANK
Coal prices inched up in May (m/m) following an 8 percent decline in 2024Q1. The Australian and South African benchmarks have plummeted more ...
Friday, 26 July 24
FUELEU MARITME IS COMING. IS YOUR CHARTERPARTY READY? - GARD
With less than six months to implementation of FuelEU Maritime in EU and EEA trades, there has been little published advice regarding how to alloca ...
Thursday, 04 July 24
INDIA'S COAL PRODUCTION RISES 14% IN JUNE - PTI
The country’s coal production rose by 14.49% to 84.63 million tonne (MT) in June. The country’s coal output was 73.92 MT in June last f ...
Tuesday, 02 July 24
NTPC CAPTIVE COAL OUTPUT GROWS 15% IN Q1; DESPATCH RISES 17%
State-owned NTPC on Monday reported a 15 per cent year-on-year increase in the production of coal from captives mines to 9.862 metric million tonne ...
Friday, 28 June 24
KOSPO INVITED BIDS FOR 400,000 MT OF MINIMUM 4000 NCV COAL FOR FIVE YEARS
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for total 400,000 MT of Low Calorific Value Coal for 5 years starting from July 2024 until ...
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- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Australian Coal Association
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Posco Energy - South Korea
- ASAPP Information Group - India
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
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