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