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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, 02 June 11
LARGE SUPRAS FOR RBCT/INDIA ROUND ARE NOW ASKING 14K - FEARNBULK
Handy
The Handy/Supra market has in general been flat and un-exciting this week. The Black Sea market is almost non existing while the US Gulf mar ...
Thursday, 02 June 11
DRY BULK SHIP OWNERS LOOKING INTO SHORTENED WEEK WITH ANXIETY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With most markets in the western world closed yesterday, as a result of Memorial Day, dry bulk stakeholders weren’t able to build over the pos ...
Monday, 30 May 11
MIANG BESAR COAL TERMINAL ON TARGET
COALspot.com - MBCT, to be largest coal terminal in Asia to start construction in Indonesia’s east Kalimantan Island in July 2011 says Mr. Joh ...
Sunday, 29 May 11
THE FREIGHT MARKET CONTINUED TO GAIN MOMENTUM - VISTAAR
COALspot.com - The freight market continued to gain momentum and the BDI, Cape Index and Panamax was by up almost 10-12 pct and on all sectors, Vist ...
Saturday, 28 May 11
WCI-CHINA RATES SLIDED TO 15K AND FROM ECI AROUND 12K - FEARNLEYS AS
Handy
Rates in the Atlantic remain steady/flat with the Black Sea remaining quiet with little fresh enquiries. The Continent is seeing more tonnag ...
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- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- The University of Queensland
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
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