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