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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, 16 June 11
FREIGHT MARKET FAILS TO RECOVER - DREWRY / HELLENIC SHIPPING
With demand failing to improve enough to contain the colossal increases in supply, the dry bulk freight market stayed near the dreadfully low levels ...
Thursday, 16 June 11
VALLAR CONTROLS 84.7 PERCENT STAKE IN BERAU COAL - INSIDER STORIES
Insider Stories reported that, London-based investment company Vallar Plc, via its subsidiary dubbed Vallar Investments UK Limited, today announced ...
Wednesday, 15 June 11
INDONESIA NEW COAL POLICY WORRIES INDIA POWER FIRMS - MYDIGITALFC
Tata Power, Adani group, Lanco Infratech and Reliance Power, among other Indian coal importers, are waiting to assess the impact of the Indonesian g ...
Wednesday, 15 June 11
BAYAN RESOURCES OWNS 56 PERCENT KANGAROO - INSIDER STORIES
Australia-listed coal miner Kangaroo Resources Limited (KRL) has obtained final approval from its shareholders to complete its US$277 million acquis ...
Wednesday, 15 June 11
DRY BULK MARKET WEAKENS AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite this time of year traditionally being one of the busiest for the dry bulk market, it seems that in the post-crisis era trade patterns are co ...
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- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Planning Commission, India
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Posco Energy - South Korea
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