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Friday, 24 June 11
THE INDONESIAN GOVERNMENT WILL NOT EXTEND ALL EXPIRED MINING CONTRACTS - JAKARTA UPDATES
 The Indonesian Government have decided not to extend all mining concessions under the scheme called Contract of Work and instead will take over the mining management which in essence nationalize it and renegotiate the right with the company or with other companies.
“If a company contract period is expired, it will not be extended. (The area) must be returned to the state first. If the foreign investors still want to continue, they will have to negotiate again. For example, say a contract with Inalum expired in 2013, yes, it run out right away, “said Coordinating Minister Hatta Rajasa in Jakarta, Tuesday (07/06/2011).
According to Hatta, the renegotiation of mining contracts of work needs to be done because there is potential lost from non-tax revenue to the state from the energy and mineral resources sector. The Government believes the royalties from the sale of Indonesia’s mining goods is too small compare to the sale value.
“There is potential lost of non-tax revenues, so renegotiation must be done. We all know that nickel mine is large, but the royalties is only 0.28 percent, while Freeport Indonesia only pays 1 percent (royalty), and Antam (Aneka Tambang), only 3.5 percent. This is not fair “said Hatta.
At the moment there are 42 mining companies operate under Contract of Work and 76 operate under the old coal mining works agreement. Amongst those are big companies such as PT Freeport Indonesia and PT Newmont Nusa Tenggara.
Strategic mineral resources exploitation as a commodity has become increasingly out of control with the implementation of regional autonomy as a result of reformation movement. The government reported that there are approximately 8,000 mining permit issued by local governments. The regional autonomy has allowed regency to grant mining permit while before reformation movement, a mining permit must be approved by the President as well as the People Representative.
The condition is increasingly opened up opportunities for foreign direct control of coal and mineral resources. Foreign mining companies, particularly from China and India, control small to medium mining operation in Indonesia by funding local companies.
“Without realizing it, we’ve become the upstream resources to China and India. The two countries are very aggressively when looking for coal resources as a substitute for foreign oil, mean while their oil and gas reserves are deliberately kept intact ” said Singgih Widagdo, Indonesian Coal Society Executive Director.
It is not clear on how the Government of Indonesia is going to fund the mining operation if big company such as PT Freeport Indonesia or PT Newmont Nusa Tenggara packs up their bags and leave as they will obviously be taking all of their equipment with them. This strategy could back fire and devoid the state from these companies income tax which undoubtedly a lot bigger than the royalty.
One would think that by simply issuing regulation to increase the royalty will be a lot easier for everyone to deal with.
Source: Jakarta Updates
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Thursday, 21 July 11
DRY BULK RATES EDGE FURTHER DOWN ON WEAK MARKET SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market fell once again on Wednesday marking the ninth straight day of losses. The industry’s benchmark, the Baltic Dry Index (BDI ...
Wednesday, 20 July 11
ANTWERP RECEIVES THE CAPESIZE MG COURAGE
The deepening of the Western Scheldt has made the port of Antwerp easily accessible not only to Ultra Large Container Ships of over 10,000 TEU but a ...
Wednesday, 20 July 11
KALIMANTAN GOLD APPOINTS COMMISSIONER TO SUBSIDIARY
Kalimantan Gold Corporation Limited has announced the appointment of Dr. Bambang Setiawan as Commissioner (a senior advisor) to the Board of PT Kali ...
Wednesday, 20 July 11
CHALLENGER GETS TABANG PROJECT IUP PERMIT
COALspot.com - Challenger Deep Resources Corporation has been getting exploration permit or Izin Usaha Pertambangan (IUP) for its Tabang coal in Eas ...
Wednesday, 20 July 11
TCM COAL PROJECT IN SOUTH KALIMANTAN MOVES TO FINAL FEASIBILITY STUDY
COALspot.com - Pan Asia Corporation Ltd has executed a formal agreement with an underground mining group KOPEX to undertake a final feasibilit ...
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- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
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