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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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Tuesday, 13 February 24
WHAT IS THE OUTLOOK FOR THE NATURAL GAS SPOT PRICE IN 2024 AND 2025? EIA
We expect the U.S. benchmark Henry Hub natural gas spot price to average higher in 2024 and 2025 than in 2023, but to remain lower than $3.00 per m ...
Monday, 12 February 24
US THERMAL COAL EXPORTS HIT 5-YEAR HIGHS AND TOP $5 BLN IN 2023 - REUTERS
United States exporters of thermal coal earned more than $5 billion in 2023 as they shipped out more than 32.5 million metric tons of the high-poll ...
Tuesday, 06 February 24
NEW E-FUELS PROJECT TO MAKE INTERNATIONAL SHIPPING CLIMATE-NEUTRAL - RINA
Transport and trade on the ocean blue must be made much greener. This is the goal of the new €17 million European GAMMA project, where compani ...
Tuesday, 06 February 24
INDIA SEES ANNUAL COAL OUTPUT UP 10.9% IN 2024/25 - REUTERS
India expects domestic coal output to increase by 10.9% to 1.13 billion metric tons in the fiscal year ending March 2025, a senior government offic ...
Tuesday, 06 February 24
INDIA'S COAL PRODUCTION INCREASES BY 10.3% TO 99.73 MILLION TONNE IN JANUARY - PTI
The country’s coal output rose 10.3 per cent to 99.73 Million Tonne (MT) in January, over the same month in the previous fiscal.
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- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- The University of Queensland
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
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