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Thursday, 10 December 09
INDONESIA'S NEW MINING LAW WILL NOT LIMIT COAL EXPORTS, SAYS GOVERNMENT
 The government will allow coal producers to continue exporting even if they miss domestic sales requirements, a senior mining official said, marking an apparent reversal of a 2008 rule.
The official also said that in the metal mining sector, the government would not push miners to set up their own smelters to process minerals locally, particularly if production was low.
The policy change is likely to be welcomed by mining firms, many of which had complained that the requirement to process all mining products into metals locally, either by setting up their own smelters or using another local smelter, could inflate costs and deter investment.
Passed in December 2008, Indonesia’s new coal and mining law requires coal producers to sell a certain portion of their output to the domestic market because demand at home is expected to surge in coming years as new power projects are completed and come on stream.
The requirement to process all mining products locally is also part of the new law that is designed to squeeze more revenue from the sector.
A draft of implementation regulations attached to the new law stipulated that coal miners could only sell overseas if they had already met domestic demand for coal or minerals.
But many big coal producers holding coal-works contracts have not been able to meet the domestic sales obligation as local buyers, including state electricity firm PT Perusahaan Listrik Negara, prefer to buy cheap coal from smaller rivals, said Bambang Setiawan, director general of minerals, coal and geothermal energy at the Energy Ministry.
“Coal contractors can continue exports of their coal even if their domestic sales don’t reach the requirement. It’s not their fault if they don’t have local buyers for their coal,” Bambang said on Monday, on the sidelines of the Indonesia Mining World 2009 Conference on Bali.
Holders of a coal contract of works — a long-term agreement between both foreign and domestic firms and the central government — normally sell coal at higher prices, as the pact gives the government a 13.5 percent cut of revenue.
This contrasts with smaller rivals, who hold a mining authorization, or KP, which is only available to domestic firms and must be agreed with local governments. The smaller miners typically pay a lower coal royalty of 3 percent to 7 percent, depending on the type of coal.
Producers holding coal contracts of work, such as PT Bumi Resources and PT Adaro Energy, account for 80 percent of total output in Indonesia, the world’s top exporter of thermal coal, which is expected to ship some 230 million tons this year.
The obligations to the domestic market will be implemented once new regulations attached to the mining law are completed. The government expects to issue the new regulations in January, Bambang said.
The government has said it plans to cap coal exports at 150 million tons a year as soon as 2010 to help supply new power stations coming on stream as part of a program to boost generating capacity and ease power shortages.
But analysts said it may take as long as five years before the new power plants finally fire up domestic demand.
Bambang said the requirement that miners set up their own smelters to process minerals locally will only apply for minerals where production has exceeded the capacity of local smelters, such as copper and nickel.
“But it won’t apply for other minerals where production is still low, such as lead and zinc. We won’t force it if it’s not economical,” he said.
Indonesia is also the world’s top exporter of tin, and one of the key producers of zinc, copper, nickel and gold.
International natural resource firms such as Freeport-McMoran Copper and Gold and Newmont Mining, both based in the United States, have operations in Indonesia but the country has seen little new foreign investment in metals and mining in recent years.
The mining law appears likely to dampen enthusiasm among potential investors.
Source: Reuters / Jakarta Globe
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Monday, 14 December 09
RICHARDS BAY COAL TO FINISH EXPANSION IN 1ST QUARTER
Richards Bay Coal Terminal, which ships more than a quarter of Europe’s energy coal, said it will complete its Phase 5 expansion project in th ...
Monday, 14 December 09
SOUTH AFRICAN STEAM COAL PRICES FIRMING UP FOR Q1 TRADE
Reuters reported that Q1 South African coal prices firmed again slightly largely on Asian demand but European delivered prices were little changed.
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Sunday, 13 December 09
THE FREIGHT MARKET SEEMS TO BE COMING OFF A BIT AND THE MARKET MAY BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com (Singapore): "The market softened this week especially in the Cape and Panamax segment , where as the Supramax and Handy size was ...
Sunday, 13 December 09
NAPOCOR CUTS COAL IMPORT PROJECTION FOR 2010
STATE-RUN National Power Corp. slashed its planned coal importation for 2010 to only 200,000 metric tons from 3.4 million MT this year, as the gover ...
Sunday, 13 December 09
CHINESE BUYERS SEEK LARGE TONNAGE OF SOUTH AFRICA STEAM COAL
Reuters reported that Chinese utilities on the coast and inland are seeking several cape cargoes each of South African coal for 2010 delivery becaus ...
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- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
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- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
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- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
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- Trasteel International SA, Italy
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- ICICI Bank Limited - India
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
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- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
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- Tata Chemicals Ltd - India
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- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
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- Independent Power Producers Association of India
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- Global Business Power Corporation, Philippines
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- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
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- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Australian Coal Association
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
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- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
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- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
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- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Aditya Birla Group - India
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
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- Planning Commission, India
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
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- Energy Link Ltd, New Zealand
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- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
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- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
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- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Minerals Council of Australia
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