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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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Monday, 20 January 14
SUB-BIT INDONESIA COAL SWAP SEEN LOWER IN 2ND HALF OF 2014
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery lost $ 0.78 pmt month on month on Friday 17 January 2014. T ...
Monday, 20 January 14
THE CFR SOUTH CHINA COAL MARKET APPEARS TO HAVE LOST DIRECTION
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery lost 4.25 percept month on month and closed at US$ 79.48 per mt as ...
Sunday, 19 January 14
FREIGHT MARKETS SEE CONTINUED WEAK PERFORMANCE
COALspot.com: The market has continued to soften particularly in the far East/SE Asia sector.
The BDI was down 6 pct week on week, the index was ...
Friday, 17 January 14
US COAL PRODUCTION DOWN WEEK ON WEEK: EIA
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.3 million short tons (mmst) of co ...
Friday, 17 January 14
DRY BULK MARKET ENDS DECLINE, BOUNCES BACK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It's been a rough start to the New Year for the dry bulk market, which was supposed to be on the verge of rallying to new heights this year, on the ...
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- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
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- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
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- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
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