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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, 13 June 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 1.2 PERCENT IN JUNE
COALspot.com - The Ministry of Energy & Mineral Resources sets coal spot price benchmark for June 2011 at US$ 119.03 per ton, higher than US$ 1. ...
Sunday, 12 June 11
THE FREIGHT MARKET IS LIKELY TO BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com - The freight market continued to soften this week except for Panamax index. The BDI was down by about 4.77 pct and closed at 1,418 poi ...
Friday, 10 June 11
DRY BULK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
This week has offered dry bulk ship owners no real reason to smile, as the industry’s benchmarket, the Baltic Dry Index (BDI) has been steadil ...
Friday, 10 June 11
BUKIT ASAM RECORDED RP1.3 TRILLION PROFIT IN MAY - TEMPO INTERACTIVE
Tempo Interactive reported that, PT PT Tambang Batubara Bukit Asam Tbk (PTBA) made a net profit of Rp 1.3 trillion (approx. US$ 152,779,410) at the ...
Friday, 10 June 11
DRY BULK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
This week has offered dry bulk ship owners no real reason to smile, as the industry’s benchmarket, the Baltic Dry Index (BDI) has been steadil ...
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- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Central Electricity Authority - India
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