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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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Wednesday, 04 December 13
INDONESIAN COAL EXPORTS VOLUME AND REVENUE IN OCTOBER MARCHED TOWARDS NORTH
COALspot.com: Indonesia, the world's 4th largest coal producer and the largest multi grade coal exporter shipped over $1.76* billion worth of ...
Wednesday, 04 December 13
WEST AUSTRALIA IRON ORE FIXTURES ALSO CONTINUING TO PROVIDE A STEADY FLOW OF BUSINESS FOR CAPES - INTERMODAL
The Dry Bulk market has reversed course this past week, bringing back some of the lost excitement of the past month, as all size segments climbed hi ...
Wednesday, 04 December 13
THE BUYERS' DEMAND IS CONTINUOUSLY BULLISH - KONSTANTINOS KONTOMICHIS
The very low rates that prevailed for the bigger part of 2013 seem to have prepared the ground for buying opportunities for shipping investors. The ...
Wednesday, 04 December 13
SGX AND CFA TO COLLABORATE TO DEVELOP DERIVATIVES MARKETS IN CHINA AND SINGAPORE
Singapore Exchange (SGX) and the China Futures Association (CFA) are cooperating in the development of derivatives markets in China and Singapore.
...
Wednesday, 04 December 13
SGX'S MONTHLY VOLUMES REACHED A RECORD HIGH OF 705,000 MT IN NOVEMBER 2013
COALspot.com: SGX has announced that, it monthly volumes have reached a record high of 705 lots (705,000 mt) in November 2013 with month-end open in ...
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- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Parliament of New Zealand
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
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