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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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Friday, 05 January 24
BANGLADESH’S 2023 COAL-FIRED POWER OUTPUT TRIPLED, EASING SHORTAGES - REUTERS
Bangladesh nearly tripled its coal-fired power output in 2023, a Reuters analysis of government data showed, helping it tide over the worst power s ...
Tuesday, 02 January 24
COAL TRADE CONTINUES TO HEAD EAST - BALTIC EXCHANGE
The global coal trade, once concentrated in the Pacific and Atlantic basins, is undergoing a significant transformation, as highlighted in the Inte ...
Tuesday, 02 January 24
COAL CARGOES: AVOIDING EXPLOSION AND SELF-HEATING - GARD
KNOWLEDGE TO ELEVATE
Despite its contribution to greenhouse gas emissions, global coal consumption climbed to an all-time high in 2022 and is ...
Tuesday, 02 January 24
SINOPEC FORECASTS CHINA’S COAL CONSUMPTION TO PEAK AROUND 2025 - REUTERS
China Petrochemical Corp, or Sinopec, expects coal consumption to peak around 2025 at 4.37 billion metric tons, the state energy group said in an o ...
Thursday, 07 December 23
CHINA TO SET UP COAL PRODUCTION RESERVE TO STABILISE PRICES - REUTERS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
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- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Planning Commission, India
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- PTC India Limited - India
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
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