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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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- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
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- Economic Council, Georgia
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- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
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- Kapuas Tunggal Persada - Indonesia
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- Chamber of Mines of South Africa
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- Australian Coal Association
- Semirara Mining Corp, Philippines
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- Edison Trading Spa - Italy
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- Parliament of New Zealand
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- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
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- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
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- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
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- Pendopo Energi Batubara - Indonesia
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- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
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- Posco Energy - South Korea
- Xindia Steels Limited - India
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- Ministry of Finance - Indonesia
- The University of Queensland
- Australian Commodity Traders Exchange
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- SMC Global Power, Philippines
- GMR Energy Limited - India
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- Bharathi Cement Corporation - India
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- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
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- CNBM International Corporation - China
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- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
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- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
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- Singapore Mercantile Exchange
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- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
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- Alfred C Toepfer International GmbH - Germany
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- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
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