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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, 22 November 13
DRY BULK MARKET STILL LACKLUSTRE, DESPITE PROJECTIONS OF A NEW RALLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
We might still be about six weeks far from the end of the year, but the projected by many analysts upcoming rally of the dry bulk market, hasn't ye ...
Friday, 22 November 13
US COAL PRODUCTION DOWN 1.3% W-W
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.5 million short tons (mmst) of coal in ...
Thursday, 21 November 13
TAIPOWER TO PROCURE 750K MT OF 5500 GAR BITUMINOUS COAL FOR MAY - AUGUST 2014
COALspot.com: Taiwan Power Company intends to procure 750,000 metric tons of bituminous coal with calorific value not lesser than 5,500 kcal/kg on a ...
Thursday, 21 November 13
CAPESIZE : THE DOWNWARD TREND HAS TURNED INTO NOTABLE SPOT AND PERIOD IMPROVEMENT - FEARNLEYS
Handy
The Atlantic market experienced a general rate increase for most trades this week. More cargoes in the market and chrts looking for prompt t ...
Wednesday, 20 November 13
PANAMAX MARKET RESUMED ITS NEGATIVE MOVEMENT FOR A SECOND WEEK IN A ROW - INTERMODAL
COALspot.com: The recovery noted the week prior in the dry Bulk market proved to be short-lived, as the BDI slipped back down to the low 1,500 point ...
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- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
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