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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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- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- PTC India Limited - India
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- White Energy Company Limited
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Xindia Steels Limited - India
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