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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, 30 June 11
DRY BULK MARKET SHOWS SIGNS OF FURTHER WEAKENING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems to be unable to shake off the additional supply of vessels, an oversupply issue of grave concern that would have occured e ...
Wednesday, 29 June 11
ANOTHER STRONG PERFORMANCE BY CAPESIZE - BRS
Another strong performance by the Capesize market this week, bringing the BCI up 8% to 1,974 points. However the Panamax market was penalised, losin ...
Monday, 27 June 11
THE IRON ORE IMPORTS BY CHINA SEEMED TO SLOW DOWN - VISTAAR
COALspot.com - The BDI was holding as previous week and was just up by 1 point and closed at 1424 points end of last week. The biggest gain was ...
Friday, 24 June 11
BERAU EYEING 70 PERCENT GROWTH IN EBITDA
Indonesia's coal producer PT Berau Coal Energy Tbk (BRAU) is eyeing a 60 -70 percent growth in EBITDA to US$ 560 million-US$595 million this year. ...
Thursday, 23 June 11
DRY BULK MARKET KEEPS EXHIBITING SIGNS OF WEAKNESS THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems to be unable to climb at new highs this week, showing signs of weakness, across most ship types. Yesterday, the Baltic Dry ...
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Showing 5211 to 5215 news of total 6871 |
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- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Planning Commission, India
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Trasteel International SA, Italy
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
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