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