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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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Tuesday, 08 December 09
HIGH GLOBAL COAL PRICES HIT POWER PROJECTS
Spot prices for the fuel have appreciated almost 10% in November.
After a sedate year, rising coal prices could hit the coffers of import-based d ...
Monday, 07 December 09
HOW INDIA CAN CUT ITS ENERGY NEEDS BY 20%!
Using energy more efficiently can reduce our energy needs by one fifth; it is a strategy we must pursue even as we promote renewables, says Kirit Pa ...
Monday, 07 December 09
ASIA COAL POWER IN INDONESIA DISCUSSES NEW MINING LAW, COAL AND POWER SECTORS AS INVESTMENTS POUR INTO COALMINES TO SECURE SUPPLIES
COALspot.com (Singaproe): Press Release - Asia Coal Power pinpoints growing power demand in Asia & Power sector investments in Indonesia's coal ...
Monday, 07 December 09
DRY BULK RATES' VOLATILITY TO STAY, BUT RECOVERY IS UNDERWAY SAYS ION VAROUXAKIS HEAD OF FREESEAS
In an interview with Hellenic Shipping News, Mr. Ion G. Varouxakis, Chairman of the Board, President and CEO of Nasdaq-listed Freeseas, explains why ...
Monday, 07 December 09
VEDANTA RESOURCES ISSUES TENDER TO IMPORT 2.25 MILLION COAL
COALspot.com (India): Vedanta Resources plc is a London stock exchange listed FTSE 100 diversified metals and mining major with revenues in excess o ...
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- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Australian Coal Association
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
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