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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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Monday, 20 June 11
5TH ASIA PACIFIC COAL TRADING & INVESTMENT OUTLOOK 2011 IS ON THE WAY
Press Release - Since the beginning of 2011, international commodity price has been in a high level, resulting in “TENSION” of energy co ...
Sunday, 19 June 11
S6 AND S7 ROUTES LIKELY TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - The freight market seemed to be stabilizing and the BDI and Cape index was up marginally and closed at 1,423 points and 1,824 points ...
Sunday, 19 June 11
BUMI 1Q NET PROFIT INCREASES 16.5 PERCENT
PT Bumi Resources Tbk (BUMI), Indonesia's largest coal exporter that is 25% owned by London-listed Vallar Plc, reported a16.49% increase in net pro ...
Friday, 17 June 11
DRY BULK BREATHES SIGH OF RELEAF ON RENEWED CAPESIZE DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has caught a sign of relief from the middle of the week onwards, as the BDI (Baltic Dry Index) increased once again yesterday, t ...
Thursday, 16 June 11
BOOSTING THE USE OF LOW CARBON ENERGY FOR A BETTER WORLD
Bali, Indonesia host of world renewable energy congress – Indonesia, international conference & exhibition on renewable energy and energy ...
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- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
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