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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, 09 June 11
INDIKA AIMS TO PRODUCE 31 MILLION TONS OF COAL IN 2011 - THE JAKARTA POST
The Jakarta Post, a leading English news paper in Indonesia reported that, PT Indika Energy Tbk, an integrated energy company, is targeting to incre ...
Wednesday, 08 June 11
BAYAN TO DISTRIBUTE RP. 80 ( APPROX. US$ 0.00939850) PER SHARE DIVIDEND
Coal miner PT Bayan Resources Tbk (BYAN), that is controlled by business Dato' Low Tuck Kwong, will distribute Rp80 a share dividend or Rp266.7 bil ...
Wednesday, 08 June 11
CBM PRODUCTION FROM AUSTRALIA, CHINA, INDIA, AND INDONESIA IS EXPECTED TO WITNESS A SIGNIFICANT INCREASE BY 2015
Press Release - According to Global Data (December 2010), CBM production in Australia, China, India, and Indonesia is expected to witness a signific ...
Sunday, 05 June 11
COAL IMPORTS BY CHINA IS LIKELY TO INCREASE - VISTAAR SINGAPORE
COALspot.com - The freight market softened this week except for the BDI and Cape index was up, but even in these sectors the momentum was compared t ...
Friday, 03 June 11
DRY BULK MARKETS RESURGENCE APPEARS TO BE LOSING SOME STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s seems to be losing some steam, despite reports of growing Chinese demand for commodities, especially coal, on the back o ...
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- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Posco Energy - South Korea
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
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