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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, 19 May 11
OVERSUPPLY, VERY LARGE ORE CARRIERS EAT UP ON DRY BULK FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a brief upward momentum which ended early last week, the Baltic Dry Index, the dry bulk market’s benchmark has returned to its usual pat ...
Wednesday, 18 May 11
THE US COAL INDUSTRY LOGGED EXPORTS OF AROUND 25M TONNES IN 1Q OF 2011 - BRS
Another slow decline in the bulk markets this week, with the BCI losing the most at nearly 5%, the BPI 2.8% and the smaller sizes sub-1% amounts. Th ...
Wednesday, 18 May 11
AKR AIMS TO SELL COAL WORTH RP216 BILLION - PAPER
Bisnis Indonesia, an Indonesia's one of the leading business paper reported that, PT AKR Corporindo Tbk has targeted coal sales valued at Rp216 bil ...
Wednesday, 18 May 11
OVERHAUL OF MINING LAW MAY DETER INVESTMENT, S&P SAYS - THE JAKARTA GLOBE
The Jakarta Globe, an Indonesian English language news paper reported that, A report by Standard & Poor’s Ratings Services that a regulatory ...
Tuesday, 17 May 11
DRY BULK MARKET ENTERS WEEK ON WEAK MODE - HELLENIC SHIPPING
In yet another sign of softening freight rates for dry bulk carriers and oversupply issues, the dry bulk market entered this week on a downward path ...
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- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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