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Friday, 06 December 13
INDONESIAN PARLIAMENT REJECTED A GOVERNMENT PROPOSAL TO EASE THE BAN ON EXPORTING UNPROCESSED ORE
 COALspot.com: Indonesian House of Representatives rejected a proposal from Energy and Mineral Resources Minister Jero Wacik on to ease the ban on exporting unprocessed ore by 12 January 2014.
The Energy and Mineral Resources Minister Jero Wacik has proposed to house, that mining companies showing a strong commitment to build domestic smelters should be exempted from the ban staring from 12 January 2014.
However, House Commission VII of Indonesian parliament overseeing energy and mineral resources rejected the proposal, saying that mining firms had been given plenty of time to build smelters, but had failed to show concrete action.
Indonesian mining companies are facing shutdown after the House of Representatives rejected a government proposal to ease the ban on exporting unprocessed ore, which is set to take full effect at the beginning of next year. If implemented as planned, the ban on exporting raw ore could cripple the country’s mining sector, as most firms, including giants Freeport Indonesia and Newmont Nusa Tenggara (NNT), do not process most of their ore in local smelters, as quoted by local English news paper, the Jakarta Post.
Indonesian Mining Business Association (Apemindo) executive director Ladjiman Damanik said that the House’s rejection of the proposal was a big blow for miners and massive layoffs would ensue, as miners unable to comply with the new law would have to cease operating, as quoted by paper.
The 2009 Mining Law requires mining companies in Indonesia to process ore in domestic smelting facilities starting in January 2014 or face ban on exporting raw ore.
If implemented fully as planned, shipping industry also will be affected significantly. Recently, Indonesia Ore exports contributed significantly to shipping industry to keep the shipping freight stable.
Observers have said that the raw ore export ban would seriously dent the country’s export earnings and widen the country’s trade deficit. Government revenue would also take a big hit, as taxes and royalties from mining companies would decline significantly, the Jakarta post further said in its today's edition.
According to JP, Freeport Indonesia, the local subsidiary of American mining giant Freeport McMoRan Copper and Gold, has warned that it could shut down its mining operations in Timika, Papua if the ban was implemented without exception. Currently, Freeport Indonesia, which employs about 24,000 workers, ships about 40 percent of its annual production of around 2.5 million tons of copper concentrates to its partly owned smelter PT Smelting in Gresik, East Java.
According to JP, the mining giant has agreed to process the larger part of its concentrate in two other local smelting plants, which are now under feasibility studies. The two smelters are scheduled to begin commercial operation in 2017.
Government has also considered to ban export of low calorific value coal under the said law. However it is not clear that, whether the low calorific value coal export ban also will be followed by unprocessed ore export ban by 12 January 2014 or not.
If the law fully implemented, despite of lost of huge income in form of taxes and royalties from mining sector, the world may see a significant corrections in Ore prices as well as ocean freights.
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Friday, 13 December 13
HARD COAL : VOLUMES POSSIBLY AT RECORD-BREAKING HIGH; PRICES POSSIBLY AT A RECORD-BREAKING LOW - VDKI
Press Release : World Hard Coal Market 2013: volumes possibly at record-breaking high, prices possibly at a record-breaking low. German and UK impor ...
Friday, 13 December 13
DRY BULK SHIPPING TO WITNESS HEALTHY DEMAND MOVING FORWARD - ICS
The Institute of Chartered Shipbrokers Greek Branch organised its 9th Annual Forum at Eugenides Foundation, on Wednesday, 11th of December, with a r ...
Friday, 13 December 13
US PRODUCED APPROXIMATELY 18.4 MILLION SHORT TONS OF COAL W/E 7 DECEMBER 2013
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.4 million short tons (mmst) of coal in ...
Thursday, 12 December 13
GREAT EXPECTATIONS SANCTIONED - EVA TZIMA
News that sanctions on Iranian oil exports could be lifted sometime in the following months have shaken the markets recently. One of the world&rsquo ...
Thursday, 12 December 13
DRY BULK MARKET RATES FOR CAPESIZES TO REMAIN VOLATILE SAYS BIMCO
The dry bulk market has reached multi year highs this week, as the BDI is standing at the 2,300-point mark. In its analysis of the market, BIMCO pre ...
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- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
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