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