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Thursday, 10 December 09
INDONESIA'S NEW MINING LAW WILL NOT LIMIT COAL EXPORTS, SAYS GOVERNMENT
 The government will allow coal producers to continue exporting even if they miss domestic sales requirements, a senior mining official said, marking an apparent reversal of a 2008 rule.
The official also said that in the metal mining sector, the government would not push miners to set up their own smelters to process minerals locally, particularly if production was low.
The policy change is likely to be welcomed by mining firms, many of which had complained that the requirement to process all mining products into metals locally, either by setting up their own smelters or using another local smelter, could inflate costs and deter investment.
Passed in December 2008, Indonesia’s new coal and mining law requires coal producers to sell a certain portion of their output to the domestic market because demand at home is expected to surge in coming years as new power projects are completed and come on stream.
The requirement to process all mining products locally is also part of the new law that is designed to squeeze more revenue from the sector.
A draft of implementation regulations attached to the new law stipulated that coal miners could only sell overseas if they had already met domestic demand for coal or minerals.
But many big coal producers holding coal-works contracts have not been able to meet the domestic sales obligation as local buyers, including state electricity firm PT Perusahaan Listrik Negara, prefer to buy cheap coal from smaller rivals, said Bambang Setiawan, director general of minerals, coal and geothermal energy at the Energy Ministry.
“Coal contractors can continue exports of their coal even if their domestic sales don’t reach the requirement. It’s not their fault if they don’t have local buyers for their coal,” Bambang said on Monday, on the sidelines of the Indonesia Mining World 2009 Conference on Bali.
Holders of a coal contract of works — a long-term agreement between both foreign and domestic firms and the central government — normally sell coal at higher prices, as the pact gives the government a 13.5 percent cut of revenue.
This contrasts with smaller rivals, who hold a mining authorization, or KP, which is only available to domestic firms and must be agreed with local governments. The smaller miners typically pay a lower coal royalty of 3 percent to 7 percent, depending on the type of coal.
Producers holding coal contracts of work, such as PT Bumi Resources and PT Adaro Energy, account for 80 percent of total output in Indonesia, the world’s top exporter of thermal coal, which is expected to ship some 230 million tons this year.
The obligations to the domestic market will be implemented once new regulations attached to the mining law are completed. The government expects to issue the new regulations in January, Bambang said.
The government has said it plans to cap coal exports at 150 million tons a year as soon as 2010 to help supply new power stations coming on stream as part of a program to boost generating capacity and ease power shortages.
But analysts said it may take as long as five years before the new power plants finally fire up domestic demand.
Bambang said the requirement that miners set up their own smelters to process minerals locally will only apply for minerals where production has exceeded the capacity of local smelters, such as copper and nickel.
“But it won’t apply for other minerals where production is still low, such as lead and zinc. We won’t force it if it’s not economical,” he said.
Indonesia is also the world’s top exporter of tin, and one of the key producers of zinc, copper, nickel and gold.
International natural resource firms such as Freeport-McMoran Copper and Gold and Newmont Mining, both based in the United States, have operations in Indonesia but the country has seen little new foreign investment in metals and mining in recent years.
The mining law appears likely to dampen enthusiasm among potential investors.
Source: Reuters / Jakarta Globe
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Monday, 14 December 09
RICHARDS BAY COAL TO FINISH EXPANSION IN 1ST QUARTER
Richards Bay Coal Terminal, which ships more than a quarter of Europe’s energy coal, said it will complete its Phase 5 expansion project in th ...
Monday, 14 December 09
SOUTH AFRICAN STEAM COAL PRICES FIRMING UP FOR Q1 TRADE
Reuters reported that Q1 South African coal prices firmed again slightly largely on Asian demand but European delivered prices were little changed.
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Sunday, 13 December 09
THE FREIGHT MARKET SEEMS TO BE COMING OFF A BIT AND THE MARKET MAY BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com (Singapore): "The market softened this week especially in the Cape and Panamax segment , where as the Supramax and Handy size was ...
Sunday, 13 December 09
NAPOCOR CUTS COAL IMPORT PROJECTION FOR 2010
STATE-RUN National Power Corp. slashed its planned coal importation for 2010 to only 200,000 metric tons from 3.4 million MT this year, as the gover ...
Sunday, 13 December 09
CHINESE BUYERS SEEK LARGE TONNAGE OF SOUTH AFRICA STEAM COAL
Reuters reported that Chinese utilities on the coast and inland are seeking several cape cargoes each of South African coal for 2010 delivery becaus ...
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- Renaissance Capital - South Africa
- ICICI Bank Limited - India
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- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
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- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
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- Edison Trading Spa - Italy
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- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
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- Goldman Sachs - Singapore
- Economic Council, Georgia
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- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
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- Eastern Coal Council - USA
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- Gujarat Mineral Development Corp Ltd - India
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- Sojitz Corporation - Japan
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
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- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
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- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
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- Bhoruka Overseas - Indonesia
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- Lanco Infratech Ltd - India
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- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
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- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Minerals Council of Australia
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
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- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
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- Ambuja Cements Ltd - India
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- Ministry of Finance - Indonesia
- Parliament of New Zealand
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- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
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- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
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- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
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- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
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- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
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- Barasentosa Lestari - Indonesia
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