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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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Friday, 17 January 14
SPOT COAL PRICE TRENDS IN US VARY ACROSS KEY BASINS DURING 2013, SAYS EIA
COALspot.com: Spot steam coal price trends in US varied across key basins in 2013, a latest EIA report says. Compared with 2012, while total coal de ...
Thursday, 16 January 14
PANAMAX : THE GAP BETWEEN SPOT AND PERIOD HAS INCREASED IN BOTH HEMISPHERES - FEARNRESEARCH
Handy
In the Atlantic we have seen rates slowly sliding on lack of enough fresh business. USG/Continent still paying excess 28k and seems on an upw ...
Thursday, 16 January 14
SHIP OWNERS SCRAP 1,119 SHIPS DURING 2013 ON THE BACK OF OVERSUPPLY ISSUES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Scrapping of older vessels is still the best bet that ship owners can make, in order to improve their newer vessels' fortunes, amid an oversupply o ...
Wednesday, 15 January 14
KOREA MIDLAND POWER CO INVITES BIDS FOR 360K MT OF SUB-BITUMINOUS COAL FOR ITS BORYEONG PLANT
COALspot.com : Korea Midland Power Co., Ltd. has invited bids through International open bidding for 360,000 Metric Tons (MT) of sub-bituminous ...
Wednesday, 15 January 14
CFR SOUTH CHINA COAL SWAPS FALL BY 6.57% MONTH ON MONTH
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery lost 6.57 percept month on month and closed at US$ 78.90 per mt as ...
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- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Deloitte Consulting - India
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
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