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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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Saturday, 28 May 11
GOLDEN MINES IPO AT RP 2,300 - RP 3,500
Coal miner PT Golden Energy Mines, a wholly owned subsidiary of PT Dian Swastatika Sentosa Tbk (DSSA) which is controlled by Indonesian businessman ...
Friday, 27 May 11
LARGER DRY BULK CARRIERS LEAD BDIS RALLY THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Larger dry bulk vessels have kept on leading the market’s rise this week, with the BDI (Baltic Dry Index) rising by a more than healthy 3.43% ...
Wednesday, 25 May 11
70 PERCENT OF HARUMS PRODUCTION SOLD - BISNIS INDONESIA
Coal producer PT Harum Energy Tbk claimed that out of this year's total production target of 10 million tons, 70% or 7 million tons had been sold, ...
Wednesday, 25 May 11
MINERS BACK GOVT PLAN TO FREEZE MINING PERMITS - THE JAKARTA POST
Indonesian coal miners hailed the government’s decision to impose a moratorium on the issuance of new mining permits, saying the freeze would ...
Wednesday, 25 May 11
DRY BULK MARKET ENTERS WEEK ON A HIGH NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has managed to end its downward trend of the past few weeks and surge back on higher ground. Yesterday, the Baltic Dry Index (BD ...
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- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- The University of Queensland
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- VISA Power Limited - India
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
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