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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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Tuesday, 08 December 09
HIGH GLOBAL COAL PRICES HIT POWER PROJECTS
Spot prices for the fuel have appreciated almost 10% in November.
After a sedate year, rising coal prices could hit the coffers of import-based d ...
Monday, 07 December 09
HOW INDIA CAN CUT ITS ENERGY NEEDS BY 20%!
Using energy more efficiently can reduce our energy needs by one fifth; it is a strategy we must pursue even as we promote renewables, says Kirit Pa ...
Monday, 07 December 09
ASIA COAL POWER IN INDONESIA DISCUSSES NEW MINING LAW, COAL AND POWER SECTORS AS INVESTMENTS POUR INTO COALMINES TO SECURE SUPPLIES
COALspot.com (Singaproe): Press Release - Asia Coal Power pinpoints growing power demand in Asia & Power sector investments in Indonesia's coal ...
Monday, 07 December 09
DRY BULK RATES' VOLATILITY TO STAY, BUT RECOVERY IS UNDERWAY SAYS ION VAROUXAKIS HEAD OF FREESEAS
In an interview with Hellenic Shipping News, Mr. Ion G. Varouxakis, Chairman of the Board, President and CEO of Nasdaq-listed Freeseas, explains why ...
Monday, 07 December 09
VEDANTA RESOURCES ISSUES TENDER TO IMPORT 2.25 MILLION COAL
COALspot.com (India): Vedanta Resources plc is a London stock exchange listed FTSE 100 diversified metals and mining major with revenues in excess o ...
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- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Australian Coal Association
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
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