Kotabaru, South Kalimantan (Antaranews) - PT Sebuku Iron Lateritic Ores Group in Sebuku, Kotabaru District, South Kalimantan, stop its concentrate export to China, because of price drops.
PT SILO Operations Manager Henry Yulianto, accompanied by Human Resources Development/General Affair IDK Dharmaja here on Thursday said since the beginning of September exports discontinued
due to price fell on the market, from about 35 dollars to around 20 dollars per tons.
"We are still unable to compete with products from Australia and Philippines with Fe content of 60 percent, while we have a maximum of 51 percent, so the price down," he said.
IDK admitted, since the opening of exports in June 2014, PT SILO has been two months (July-August) exporting concentrates to China.
"In early September until now there is only one export. Now buyers can determine the market, not the market that determines the buyer," said IDK.
Management is not sure how long the export of concentrate will be terminated. But it does not rule out waiting for prices stabilized.
Information said that PT SILO in period of 2014 get concentrate export quota of about eight million metric tonnes, with avalue of about 120 million dollars.
Previously Henry said to get a recommendation from the Ministry of Energy and Mineral Resources (ESDM), in the form of export approval letter (SPE), SILO must pay seriousness about 12 million dollars.
Meanwhile, since January 12, 2014, with the enactment of Law No. 4 of 2009 on Mineral and Coal, which banned raw mineral export, SILO no longer exporting iron ore.
After the first stage of purification plant with an investment of 60 million US dollars completed, SILO started to refining the form of concentrate, then it export just in June.
But with the fall of prices in the market, SILO since early September stop exporting while the time limit has not been determined.
COPYRIGHT © ANTARA News Kalimantan Selatan 2014
PT SILO Operations Manager Henry Yulianto, accompanied by Human Resources Development/General Affair IDK Dharmaja here on Thursday said since the beginning of September exports discontinued
due to price fell on the market, from about 35 dollars to around 20 dollars per tons.
"We are still unable to compete with products from Australia and Philippines with Fe content of 60 percent, while we have a maximum of 51 percent, so the price down," he said.
IDK admitted, since the opening of exports in June 2014, PT SILO has been two months (July-August) exporting concentrates to China.
"In early September until now there is only one export. Now buyers can determine the market, not the market that determines the buyer," said IDK.
Management is not sure how long the export of concentrate will be terminated. But it does not rule out waiting for prices stabilized.
Information said that PT SILO in period of 2014 get concentrate export quota of about eight million metric tonnes, with avalue of about 120 million dollars.
Previously Henry said to get a recommendation from the Ministry of Energy and Mineral Resources (ESDM), in the form of export approval letter (SPE), SILO must pay seriousness about 12 million dollars.
Meanwhile, since January 12, 2014, with the enactment of Law No. 4 of 2009 on Mineral and Coal, which banned raw mineral export, SILO no longer exporting iron ore.
After the first stage of purification plant with an investment of 60 million US dollars completed, SILO started to refining the form of concentrate, then it export just in June.
But with the fall of prices in the market, SILO since early September stop exporting while the time limit has not been determined.
Editor : Asmuni Kadri
COPYRIGHT © ANTARA News Kalimantan Selatan 2014