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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, 23 May 11
BRMS IS TO START PRODUCTION FROM DAIRI PRIMA MINERALS
COALspot.com - The Presidential Decree No. 28 Year 2011 that allows conditional underground mining in the protected forest areas was issued on 19th ...
Sunday, 22 May 11
INDONESIA - INDIA IS LIKELY TO BE STEADY NEXT WEEK - VISTAAR SINGAPORE
COALspot.com - The freight market remained soft beginning of the week, however second half of the week was firm with BDI up by 3.29 pct and closed a ...
Saturday, 21 May 11
OWNERS PREFER TO DO INDO COAL OR NICKEL ORE TO CHINA RATHER THAN GOING TO INDIA - FEARNBULK
Handy
The Atlantic is marked by volatility and very positional, nevertheless USG,NCSA, Cont remain strong thanks to the petcoke, grains and scrap ...
Friday, 20 May 11
GOVT TOLD TO LIMIT COAL, GAS EXPORTS - THE JAKARTA POST
The Jakarta Post, a leading news paper in Indonesia, reported that, Amid soaring global oil prices, the government should limit exports of coal and ...
Thursday, 19 May 11
INDONESIAN COAL EXPORTS DROP 7.98 PERCENT IN APRIL
COALspot.com - Indonesian coal exports dropped to 2.168 million tons in April, and up 7.13 percent on the year and 7.98 percent below March, a ...
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- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- White Energy Company Limited
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
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