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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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Monday, 24 June 24
PHILIPPINES COAL SUPPLY ENOUGH UNTIL 2030 - PHILSTAR GLOBAL
The country’s existing coal-fired power plants are sufficient to ensure enough base load capacity in the next six years, Energy Secretary Rap ...
Friday, 14 June 24
NEXTDECADE, SAUDI ARAMCO SIGN 20-YEAR LNG SUPPLY DEAL - REUTERS
U.S. liquefied natural gas (LNG) provider NextDecade has signed a non-binding agreement with Saudi Aramco 2222.SE to supply 1.2 million tonnes per ...
Friday, 14 June 24
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Friday, 14 June 24
INDIA TARGETS HIGHER DOMESTIC COAL PRODUCTION, REDUCED IMPORTS: GOVT - REUTERS
India wants to reduce coal imports and increase domestic production, federal coal minister G. Kishan Reddy said on Thursday.
The cou ...
Thursday, 13 June 24
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The value-chain emissions of liquified natural gas (LNG) are lower on average than for coal-fired power generation, even when the fuel is shipp ...
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- Therma Luzon, Inc, Philippines
- The University of Queensland
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- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
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- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
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- Lanco Infratech Ltd - India
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- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
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- Pipit Mutiara Jaya. PT, Indonesia
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- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
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- Coal and Oil Company - UAE
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- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
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- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
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- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
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- Kideco Jaya Agung - Indonesia
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- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Economic Council, Georgia
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- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
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- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Posco Energy - South Korea
- CNBM International Corporation - China
- White Energy Company Limited
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Planning Commission, India
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
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