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