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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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Sunday, 10 July 11
PTBA INCREASES SHARES IN COAL TRAIN PROJECT - TEMPO INTERACTIVE
TEMPO Interactive reported that, PT Tambang Batubara Bukit Asam (PTBA) is still studying the plan to buy 20 percent of shares in the PT Bukit Asam T ...
Sunday, 10 July 11
DRY BULK MARKET SHOWING SIGNS OF IMPROVEMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Stronger Capesize demand has helped propel the dry bulk market forward this week, with the Baltic Dry Index (BDI) ending yesterday’s session u ...
Sunday, 10 July 11
INDONESIAN BAYAN RESOURCES TO SUPPLY 100 MILLION TONS OF COAL TO INDIAN UNIVERSAL SUCCESS ENTERPRISES LIMITED
Coal miner PT Bayan Resources Tbk (BYAN), that is owned by Dato' Low Tuck Kwong, has entered into a conditional sales and purchase agreement to sup ...
Thursday, 07 July 11
BELOW 5100 COAL WILL BE BANNED FOR EXPORT BY 12 JANUARY 2014
COALspot.com - Indonesian government is in the process of drafting an amendment for government regulation 23/ 2010.
GR 23/2010 has issued to sup ...
Wednesday, 06 July 11
ATLAS RESOURCES TO OFFLOAD 17 PERCENT IPO - INSIDER STORIES
Coking and thermal coal miner PT Atlas Energi Resources aims to offload 17percent new shares of its enlarged capital after Eid-Fitri holidays, as qu ...
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- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- The University of Queensland
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- White Energy Company Limited
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- MS Steel International - UAE
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
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