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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, 05 May 11
AKR NAMES KARUNIA AS COAL CONTRACTOR
Insider Stories reported that, PT AKR Corporindo Tbk has appointed PT Karunia Bumi Khatulistiwa as the contractor of coal mining concession in North ...
Tuesday, 03 May 11
DRY BULK MARKET OUTLOOK SEEN WEAK, AS SHIP OWNERS PILE UP MORE SHIPS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the Baltic Dry Index not trading yesterday, it’s worth taking a step back to see the current freight levels. First of all, capesizes and ...
Tuesday, 03 May 11
THE HANDY MARKET CONTINUED TO SLIDE DOWN - BRS
There were marginal increases in rates for the larger sizes this week, with the Cape index remaining stable and the Panamax index logging a 5% incre ...
Monday, 02 May 11
ADARO POSTS 11.7 PERCENT INCREASE IN REVENUES ON HIGHER PRICES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s second-largest coal producer, PT Adaro Energy Tbk, announced an 11.7 percent increase in net reven ...
Saturday, 30 April 11
BUKIT ASAM PROFIT HAS JUMPS 108 PERCENT IN Q1, 2011
The Indonesian state-controlled coal miner PT Bukit Asam Tbk (PTBA) reported a 108.07 percent jump in net profit during the first three months of 20 ...
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- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Minerals Council of Australia
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