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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, 23 February 24
STRONG OUTLOOK FOR THE TANKER MARKET IN 2024 AND BEYOND - DNV
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Thursday, 22 February 24
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Monday, 19 February 24
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- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- VISA Power Limited - India
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- MS Steel International - UAE
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- The University of Queensland
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Australian Coal Association
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
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