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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, 22 March 24
INDONESIA APPROVES 922.14 MLN T COAL PRODUCTION QUOTA FOR 2024, ABOVE TARGET - REUTERS
Indonesia has approved coal production quotas totalling 922.14 million metric tons for 2024, Bambang Suswantono, a senior official at the mining mi ...
Friday, 22 March 24
CHINA COAL INDUSTRY GROUP EXPECTS OUTPUT GROWTH TO SLOW IN 2024 - REUTERS
China’s coal output is expected to increase 36 million metric tons, or 0.8%, to about 4.7 billion tonnes in 2024, a Chinese coal industry gro ...
Monday, 18 March 24
THREE KEY TAKEAWAYS FROM OUR EUROPE GAS MARKETS SHORT-TERM OUTLOOK Q1 2024 - WOOD MACKENZIE
European gas prices are currently back to pre-crisis levels, but with a complex series of factors affecting future supply and demand, are they set ...
Wednesday, 06 March 24
INDONESIA AIMS TO FINISH MINING OUTPUT QUOTAS APPROVAL BY END-MARCH, OFFICIAL SAYS - REUTERS
Indonesia’s has approved the mining production quotarequests from more than 120mineral companies and aims to complete the approval process th ...
Monday, 04 March 24
IS YOUR GUARANTEE A GUARANTEE? NOTE TO SHIPOWNERS - GARD
KNOWLEDGE TO ELEVATE
The law of guarantees is not always obvious or easy to understand without proper guidance. This article clarifies the dif ...
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- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
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