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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, 07 January 14
INDONESIA RAISES COAL PRICE THIS MONTH
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has increased government declared coal bench mark price by US$ 1.59 / MT ...
Tuesday, 07 January 14
NEWCASTLE COAL TERMINAL'S COAL EXPORTS SLIDE TO 3.54 MMT W/E 30 DECEMBER 13
COALspot.com: In the week ended December 30, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 3.54 ...
Tuesday, 07 January 14
US COAL OUTPUT SLIDES 9 PCT WEEK ON WEEK, EIA SAYS
COALspot.com – United States the world’s second largest coal producer, produced approximately 17.8 million short tons (mmst) of coal in ...
Monday, 06 January 14
ARGUS LAUNCHES SPOT CFR EAST COAST INDIA COAL ASSESSMENTS
COALspot.com: Global energy and commodity news and price reporting agency Argus has announced today that, the company has launched CFR coal assessme ...
Monday, 06 January 14
INDONESIAN COAL SWAPS SLIDE TO $ 61.25 FOR Q4' 14 DELIVERY
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery lost $ 0.32 pmt month on month on Friday 3 January 2014. Th ...
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- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
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