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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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- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- The University of Queensland
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Australian Coal Association
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Planning Commission, India
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
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