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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, 01 December 23
COAL MINERS GROUP EXPECTS INDONESIA’S 2023 COAL OUTPUT TO SURPASS TARGET - REUTERS
The Indonesian Coal Mining Association (ICMA) expects the country’s 2023 coal output to surpass the official target of 695 million metric ton ...
Friday, 24 November 23
COAL IMPORTS TO INDIA IN OCTOBER 2023 REACHED HIGHEST LEVELS IN NEARLY A YEAR AND A HALF - VESSELSVALUE, VESON NAUTICAL
In October, coal imports to India reached 13.8 mt in October 2023, according to Oceanbolt, a Veson Nautical solution, the highest level since May 2 ...
Friday, 24 November 23
COAL SHIPMENTS TO ADVANCED ECONOMIES DOWN 17% SO FAR IN 2023 - BIMCO
In the first ten months of 2023, coal shipments to advanced economies fell by 17% y/y, as demand for electricity declined and the share of electric ...
Friday, 24 November 23
INTELLIGENT COAL MINES CONTRIBUTE TO IMPROVING SAFETY STANDARDS - CHINA DAILY
Mechanization, automation and intelligent upgrades have contributed to improved safety in coal mines, though the level of development of intelligen ...
Friday, 24 November 23
WHY AUSTRALIA'S COAL MINES ARE GETTING BIGGER - IEEFA
Australia’s largest coal mines are getting larger. Mines in New South Wales (NSW) are ramping up production following the state’s recov ...
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- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- The University of Queensland
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- White Energy Company Limited
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- MS Steel International - UAE
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
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