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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, 07 May 11
SUPRAMAXES ARE AT AROUND $ 13,500-14,000 PER DAY FOR SINGLE TRIPS
COALspot.com - The freight remained fairly steady this week with the BDI up by 71 points and closing at 1,340 points, said Capt. Reddy, the director ...
Saturday, 07 May 11
COAL PRODUCTION MAY REACH 95M TONS IN SECOND QUARTER - THE JAKARTA POST
The Jakarta Post reported that, Indonesian miners are projected to produce around 95 million tons of coal in the second quarter of this year after l ...
Friday, 06 May 11
BUKIT ASAM TO CLOSE COAL TAKEOVER IN Q2 - INSIDER STORIES
The state-controlled PT Tambang Bukit Asam Tbk (PTBA) expects to complete acquisition of two coal mining companies from four companies which is now ...
Thursday, 05 May 11
SUPRAS IN NORTH CHINA ARE GETTING CLOSE TO $ 13K FOR INDO-INDIA
Handy
The Atlantic market is stable/flat with positive undertone meaning more enquiries hitting the market today. Lack of prompt vessels. Trips to ...
Thursday, 05 May 11
PANAMAXES LEAD DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s benchmark, the Baltic Dry Index (BDI) managed to edge higher yesterday, rising by 1.81% to 1,292 points, in the first po ...
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- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- White Energy Company Limited
- GMR Energy Limited - India
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Planning Commission, India
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
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