Saturday, September 17, 2011

The 2012 Domestic Market Obligation

 
Outlook: 2012 Domestic Market Obligation

Last week, Ministry of Energy & Mineral Resources announced the Domestic Market Obligation (DMO) for 2012 fiscal year to a number of Coal Contract of Work holders (PKP2B) and IUP Holders. How about we take a review for a while?

According to the Ministry’s Decree, the ministry forecasted the 2012 coal production will reach 332 million tons. The DMO obliged national coal companies to allocate at least 24.72% from total production which amounted at 82.07 million tons, increased 4% from 2011, and supported by 40 PKP2B holders, 22 IUP holders, and one state-owned company PT Bukit Asam Tbk. Interestingly, the DMO supporters decreased significantly from the previous year.

The ‘newboys’ in the PKP2B list are PT Baturona Adimulya and PT Indexim Coalindo, while the withdrawers are PT Intertex Sacra Raya, PT Intitirta Primasakti, PT Mantimin Coal Mining, and PT Senamas Energindo Mulia.

What about the IUP holders?
Company


2012 DMO (tons)
PT Adimitra Baratama Nusantara
939,355
PT Arzara Baraindo
258,323
PT Astri Mining Resources
352,258
PT Batu Gunung Mulia
352,258
PT Berau Bara Energi
234,839
PT Bara Jaya Utama

469,678
PT Bhumi Rantau
352,258
PT Bukit Baiduri Energi
817,826
PT Binamitra Sumberarta
234,839
PT Cahaya Energi Mandiri
234,839
PT Jembayan Muarabara
1,197,679
PT Kemilau Rindang Abadi
986,323
CV Karya Utama Banua
352,258
PT Kayan Putra Utama Coal
704,517
PT Lamindo Inter Multikon
1,150,710
PT Lembuswana

469,678
PT Mega Prima Persada
422,710
PT Multi Sarana Avindo
821,936
PT Pipit Mutiara Jaya
469,678
PT Serongga Sumber Lestari
352,258
PT Sinar Kumala Naga
281,807
PT Tunas Muda Jaya
352,258
Total


11,808,285

Well, compared to 2011 DMO, missing from the list is PT Kaltim Batu Manunggal, a company which owned a concession in Bukit Soeharto (Soeharto Hill) National Park in East Kalimantan. Well, since 2009, East Kalimantan Governor Awang Faroek has promised to stop mining activities within the national park, but it seems no significant progress made yet.

Again, back to DMO, how are the big players? Well, I’ve tried to make a comparison between the 2012 DMO with 2010 coal production as a fundamental. Most of the 2010 coal production data I’ve taken from its financial reports.

Company
2012 DMO
2010 production
Change (%)
(million tons)
(million tons)

PT Adaro Indonesia
11.74
42.20

27.82
PT Antang Gunung Meratus
0.37
2.00
*
18.54
PT Arutmin Indonesia
6.59
20.43

32.26
PT Asmin Koalindo Tuhup
0.88
1.95

45.00
PT Bahari Cakrawala Sebuku
0.11
1.27

9.05
PT Bangun Banua Persada Kalimantan
0.18
0.33
***
54.54
PD Baramarta
0.93
1.25
***
74.37
PT Berau Coal
5.52
17.40

31.70
PT Borneo Indobara
0.53
(no report)

-
PT Baturona Adimulya
0.30
0.07
***
441.09
PT Batualam Selaras
0.12
0.03
***
409.36
PT Bukit Asam Tbk
3.21
23.60

13.62
PT Firman Ketaun Perkasa
0.46
1.60
**
28.97
PT Gunung Bayan Pratamacoal
0.87
3.80

22.77
PT Indominco Mandiri
3.46
14.50

23.87
PT Indexim Coalindo
0.11
(no report)

-
PT Insani Baraperkasa
0.99
2.25

43.97
PT Jorong Barutama Greston
0.34
1.00

34.45
PT Kadya Caraka Mulya
0.07
0.01
***
483.80
PT Kalimantan Energi Lestari
0.13
(no report)

-
PT Kaltim Prima Coal
12.69
39.03

32.50
PT Kideco Jaya Agung
8.03
29.10
*
27.61
PT Kartika Selabumi Mining
0.25
0.12
***
208.86
PT Lanna Harita Indonesia
0.62
1.27
***
48.90
PT Mahakam Sumber Jaya
1.95
4.90

39.89
PT Mandiri Inti Perkasa
0.87
2.02
***
42.90
PT Multi Harapan Utama
0.67
1.09
***
61.42
PT Multi Tambang Jaya Utama
0.26
0.15
***
178.29
PT Marunda Graha Mineral
0.43
1.89
*
22.92
PT Nusantara Termal Coal
0.37
(no report)

-
PT Perkasa Inakakerta
0.83
2.70

30.68
PT Pesona Khatulistiwa Nusantara
0.52
1.00
*
51.62
PT Riau Bara Harum
0.50
0.83
***
60.88
PT Santan Batubara
0.62
2.10
*
29.43
PT Singlurus Pratama
0.37
0.64
***
58.25
PT Sumber Kurnia Buana
0.24
0.50
***
47.99
PT Tanito Harum
0.74
(no report)

-
PT Tanjung Alam Jaya
0.17
(no report)

-
PT Trubaindo Coal Mining
1.61
5.40

29.75
PT Teguh Sinar Abadi
0.48
1.60
**
29.85
PT Wahana Baratama Mining
1.13
2.60

43.50
Total
70.26
229.00


note:




* : Taken from media reports




** : Total joint production




*** : Taken from Ministry of Energy & Mineral Resources data


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Truly I would like to skip the data from Ministry of EMR as it is not as good as I expected. From the data, we could see that coal companies which has DMO below 24.72% are PT Antang Gunung Meratus (Baramulti Suksessarana), PT Bahari Cakrawala Sebuku (Straits Asia), PT Bukit Asam Tbk, PT Gunung Bayan Pratamacoal (Bayan Resources), PT Indominco Mandiri (ITMG), and PT Marunda Graha Mineral.

What about the coal portion for 2012?
Industries
DMO 2012
DMO 2011
Change (%)

(million tons)
(million tons)

PT PLN & PLTGB - PLTGBB
57.2
55.82
2.47
Independent Power Producers
10.76
8.97
19.96
PT Freeport Indonesia
0.83
0.83
0.00
PT Newmont Nusa Tenggara
0.54
0.47
14.89
PT Pusaka Jaya Palu Power
0.19
0.19
0.00




PT International Nickel Indonesia Tbk
0.13
0.14
-7.14
PT Aneka Tambang Tbk
0.19
0.2
-5.00




Cement Industries
8.4
8.86
-5.19
Textile
1.93
0.92
109.78
Fertilizers
1.3
0.76
71.05
Pulp
0.6
2.49
-75.90

As you can see, DMO coal for electricity utility PT PLN increased slightly by 2.47%, but more coal allocated for IPP and Newmont. Another significant increase also made by Textile industries. On the other hand, the 2012 DMO sees coal allocations for Pulp industries decrease significantly.

Well, from the data, forecasts, and expectations above, one big question is: Will PLN has enough fuel to get out from electricity blackout?

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