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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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Wednesday, 12 June 24
CHINA ACCOUNTS FOR 16.3% OF AUSTRALIA'S COAL EXPORTS, FOLLOWED BY INDIA 14.4% - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels says Banchero Costa in its latest report.
...
Wednesday, 12 June 24
LNG NEWBUILDING VALUES AT RECORD HIGH: 78 NEWBUILD ORDERS PLACED IN 2024, DOUBLING 2023 - VESON NAUTICAL
The number of LNG newbuilding orders have more than doubled from the same period last year where 34 orders were placed, compared to 78 in the first ...
Monday, 10 June 24
CHINA'S MAY COAL IMPORTS RISE 11% ON LOWER DOMESTIC OUTPUT - REUTERS
China’s imports of coal rose 11% in May from a year earlier, customs data and Reuters records showed on Friday, as lower domestic output this ...
Tuesday, 04 June 24
HOW DO WESTERN SANCTIONS ON RUSSIA IMPACT THE GLOBAL METALS, MINING AND COAL MARKETS - WOOD MACKENZIE
The geopolitical landscape for Russia, as a major supplier of various commodities, has undergone a dramatic transformation since the invasion of Uk ...
Friday, 22 March 24
CASE STUDY: DANGERS OF COAL CARGO - SKULD
Recently, a bulk cargo vessel carrying coal from South Africa to Singapore suffered a fatal accident, resulting in the deaths of three crew members ...
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- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Australian Coal Association
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Planning Commission, India
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
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