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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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Friday, 15 July 11
BUKIT ASAM 1H COAL SALES UP 44 PERCENT
The state-controlled PT Tambang Batubara Bukit Asam Tbk (PTBA) is estimated to post 6.5 million tons of coal sales in the first half of this year, a ...
Thursday, 14 July 11
INDO GOVT. SETS JULY COAL REFERENCE PRICE AT US$ 118.24 PER TON
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia sets coal spot price benchmark for July 2011 at US$ 118.24 per ton, US$ 0 ...
Thursday, 14 July 11
DRY BULK MARKET KEEPS FALLING ON WEAK CAPESIZE SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on retreating on Wednesday, with the Baltic Dry Index (BDI) falling to 1,383 points, from 1,411 of the previous day. Capesi ...
Thursday, 14 July 11
UNITED TRACTORS BUYS DUTA SEJAHTERA - INSIDER STORIES
Insider Stories reported that, PT United Tractors Tbk (UNTR), via a wholly-owned subsidiary PT Tuah Turangga Agung, will acquire PT Duta Sejahtera a ...
Wednesday, 13 July 11
ANOTHER FIRMER WEEK FOR THE CAPES - BRS
Barry Rogliano Salles reported that, there were mixed results for the dry bulk market this week: the Capesize and Panamax markets performed well gai ...
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- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
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