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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, 09 May 11
THAILAND COAL IMPORTS SURGE IN Q1 - ICAP SHIPPING
Thailand's coal imports leapt 20% in Q1 and the country looks set to import its largest ever volume in 2011 as quoted by ICAP Shipping web site.
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Monday, 09 May 11
KOSPO SEEKING 65KT STEAMING COAL
COALspot.com - Korea Southern Power Co (KOSPO) issues tender for 65000 Mt of Steaming Coal Supply with a minimum CV of 4,500 kcal/kg on NAR basis. D ...
Monday, 09 May 11
INDONESIA HBA FALL BELOW $118
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the May 2011 Indonesian Coal Reference Price for thermal coal at US$ 11 ...
Monday, 09 May 11
DIAN SWASTATIKA Q1 PROFIT SOARS 511 PERCENT - INSIDER STORIES
PT Dian Swastatika Sentosa Tbk (DSSA), parent of coal miner PT Golden Energy Mines, reported a 511.73% jump in net profit for the first quarter of t ...
Saturday, 07 May 11
BERAU INKS DEALS WITH CHINESE FIRMS AS COAL WEATHERS COMMODITIES STORM - THE JAKARTA GLOBE
The Jakarta Globe reported that, Berau Coal, one of the country’s largest coal miners, has signed sales contracts with two Chinese companies a ...
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- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- PTC India Limited - India
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Planning Commission, India
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
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