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Thursday, 06 February 14
INDONESIA'S BAN ON THE EXPORT OF RAW MINERAL ORES COMES INTO FORCE - INCE & CO
 COALspot.com: On 12 January 2014, the ban on the export of unprocessed mineral ores came into effect in Indonesia. This ban enforces the Mining Law passed five years ago in 2009, which mandates that mineral ores for export must be processed in-country from 12 January 2014.
It appears, however, that not all minerals are treated equally: it is reported that the law allows for different minimum processing requirements for different minerals before they can be exported.
Bauxite, nickel, tin, chromium, gold and silver are required to be fully processed or refined before export. Mineral ores that can be exported semi-processed or with only purification include copper, iron, lead and zinc.
The new law also seeks to regulate the export of minerals through a progressive tax. Higher export taxes will be imposed on minerals having lower levels of purification or processing, in order to encourage processing to be carried out in Indonesia rather than overseas.
It has also been reported that some 60-odd companies in Indonesia will still be allowed to continue to export unprocessed mineral ores.
However, until more details emerge or the regulation implementing the ban is publicly available, the exact parameters (for instance, the minimum level of purity required of each mineral before it can be exported) and impact of the ban, is uncertain.
Enforcement of the ban is another issue, considering the fact that it has been reported that Indonesia does not currently have the ability to process the mineral ores to the requisite purity levels for export. In context with the impact of the ban on Indonesia’s economy, this may mean that the ban is not ultimately as widely enforced as currently anticipated.
What this means for traders
This ban is likely to have an impact on trade contracts. In particular, traders will have to consider whether the Indonesian government’s new export restrictions fall within the provisions of their contracts dealing with force majeure situations. The extent to which traders will decide to utilise force majeure or other similar provisions like material adverse change clauses in their contracts would also depend on the prevailing market level: if traders are making a loss, they might be more likely to invoke such provisions to cancel their contracts or to excuse or suspend performance of their obligations under the contract.
Traders could also face shipment delays on liftings in Indonesia due to uncertainty in the level of processing required for mineral exports.
On the same note, traders (and charterers) may also face more claims from shipowners for demurrage and other costs as a result of vessels being delayed in departing from Indonesian ports. The potential of this increased risk was starkly illustrated by recent reports that a number of Chinese bulkers which had completed loading were detained at Indonesian ports in the lead up to the ban. We understand that these ships have since been allowed to depart. (Originally published on 22 January 2014)
By: John Simpson (Mr) & Maureen Poh (Ms)
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About Mr John Simpson:
John specialises in the handling of litigation, arbitration and alternative dispute resolution for his clients. John has experience of English litigation and of arbitration in London and Singapore, almost always relating to cross border disputes.
John is experienced in litigation in London and in arbitration under the rules of various arbitration bodies, including the SIAC, the ICC and the LCIA. John joined Ince & Co London in 1999, moving to Ince & Co Singapore in 2007. John has been a partner of Ince & Co since 2010.
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About Ms Maureen Poh
Maureen joined Ince & Co Singapore in 2013, having previously worked in Ince & Co's Shanghai office since 2011 . Her main areas of practice are dry shipping, and international trade and commodities.
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About Ince & Co
Ince & Co an international commercial law firm with offices in Beijing, Dubai, Hamburg, Hong Kong, Le Havre, London, Monaco, Paris, Piraeus, Shanghai and Singapore.
Ince & Co clients are range from major international corporations to smaller companies, sole traders and private individuals. Ince & Co practises English, French, German, Greek, Hong Kong and PRC law. http://www.incelaw.com
Views and opinions / conclusion expressed herein are personal views of the authors 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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Thursday, 25 January 24
THE RED SEA ESCALATION IMPLICATIONS ON GLOBAL SEABORNE TRADE - MARIA BERTZELETOU
In recent days, discussions have intensified about the potential impact on the seaborne trade and ton-miles due to the evolving dynamics of market ...
Thursday, 25 January 24
RED SEA SHIPPING DISRUPTIONS KEEP GEOPOLITICAL PREMIUM FOR COMMODITIES - FITCH RATINGS
Shipping disruptions and re-routing away from the Red Sea will maintain the geopolitical premium in the main commodity markets, including for oil a ...
Friday, 19 January 24
INDONESIA TARGETS 710 MLN METRIC TONS COAL OUTPUT IN 2024 AFTER RECORD 2023 - REUTERS
Indonesia, a major thermal coal exporter, aims to produce 710 million metric tons of coal in 2024, its mining minister said on Monday, after postin ...
Friday, 19 January 24
DRUMMOND COLOMBIA COAL OUTPUT ROSE 7.1% IN 2023 - REUTERS
Coal production from miner Drummond’s Colombia operations rose 7.1% in 2023 to 29.5 million metric tons, while exports declined by 2.6% to 27 ...
Friday, 19 January 24
CHINA'S 2023 COAL OUTPUT HITS RECORD HIGH - REUTERS
China’s coal output reached a record high in 2023, data from the statistics bureau showed on Wednesday, amid an ongoing focus on energy secur ...
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Showing 51 to 55 news of total 6871 |
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- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Planning Commission, India
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
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