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Wednesday, 22 January 14
EXPORT BAN ON UNPROCESSED MINERALS EFFECTIVE 12 JANUARY 2014 - THREE - YEAR REPRIEVE FOR SOME, BUT UNCERTAINTY REMAINS: PWC
 COALspot.com: On 11 January 2014, only hours before a long-debated ban on the export of unprocessed minerals was to come into effect, the Government released a series of regulations, seen by many as a compromise position between a full ban and allowing exports of unprocessed ores to continue unabated. The last minute reprieve for producers of certain types of mineral concentrates is available only until 11 January 2017, and comes with strict requirements to show a commitment to building refining facilities (either individually or in cooperation with others), as well as an obligation to pay large and progressively increasing export tariffs, ranging from 20% up to 60% of export revenues.
The Government seems to have heeded the warnings from many sources of the potentially significant negative short-term impact on the economy of a full export ban – particularly in relation to copper concentrates. It has been asserted by many for some time that building additional copper refining capacity in Indonesia is not currently economically feasible, and a full ban on unrefined copper would result in scaled-back production by some of the country’s largest mineral exporters, with resultant job losses, and reduced dollar-denominated export revenues, at a time when Indonesia’s current account and currency are under pressure.
However, the temporary nature of the exception for certain mineral concentrates, and the very heavy export duties imposed, may not achieve the stated outcome hoped for by the Government, which is encouraging investment in refining facilities. Government regulation alone does not improve the economic feasibility of a project, and the heavy export duties may impact both the feasibility of continuing to export over the next three years, as well as the cash flows available for investment in refining capability.
A further concern is that the regulations make clear that they apply both to IUPs (or mining business licences) as well as Contracts of Work (CoWs). CoW holders are likely to question the applicability of newly-promulgated regulations and taxes given the lex specialis nature of their contracts – something which is bound to result in more uncertainty and investment delays in the Indonesian mining sector.
It is yet to be seen how the industry and the Government will respond to these challenges.
- Sacha Winzenried & Fandy Adhitya -
About Sacha Winzenried & Fandy Adhitya
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| Sacha Winzenried |
Fandy Adhitya |
Sacha Winzenried is the lead technical adviser, and Fandy Adhitya a director, in PwC Indonesia’s Energy, Utilities & Mining practice.
They are responsible for the production of mineIndonesia, PwC Indonesia’s annual review of trends in the Indonesian mining sector, which can be obtained at www.pwc.com/id.
Views and opinions / conclusion expressed herein are personal views of the author and not that of COALspot.com.
If you believe an article violates your rights or the rights of others, please contact us.
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Tuesday, 28 January 14
RESOURCE NATIONALISM OR PROTECTIONISM FOR THE MINING AND EXTRACTIVES INDUSTRY - JOHN WHITTAKER & MICHAEL SWANGARD
Resource nationalism or protectionism for the mining and extractives industry as well as soft commodities sector and the oil industry.
‘Res ...
Tuesday, 28 January 14
DRY BULK SHIP OWNERS RETREAT TO OLD 'HABITS', REFUSING TO DEMOLISH OLD VESSELS, THREATENING MARKET RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
If one thing is clear as we reflect on the 2013 shipping markets, it's that ship owners took advantage of low prices, in order to acquire newer ton ...
Monday, 27 January 14
MERCATOR SINGAPORE REPORTS 52% INCREASE IN EBITDA FOR Q3 FY 2014 AS COMPARED TO PREVIOUS QUARTER
COALspot.com: Mercator Lines (Singapore) Limited, a leading Indian-owned international dry bulk shipping company that operates a fleet of fourteen d ...
Monday, 27 January 14
13TH CLEAN COAL FORUM 2014
COALspot.com: (Press Release) - Produced by CDMC Events, The 13th Clean Coal Forum 2014 will be held on June 12 &13 2014 in Beijing, China. We a ...
Monday, 27 January 14
Q3 & Q4 API 8 CFR SOUTH CHINA COAL SWAPS CONTINUE TO REMAIN WEAK
COALspot.com: API 8 CFR South China Coal swaps for average Q1 14 delivery lost 4.45 percent month on month and closed at US$ 79.05 per mt as on Frid ...
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- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- PTC India Limited - India
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
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