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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, 30 April 11
THE PANAMAX WAS THE BIGGEST GAINER
COALspot.com - The freight market appeared to recover slightly after the Easter holidays. However they market may not move up much and likely to mai ...
Friday, 29 April 11
KOMIPO ISSUES TENDER FOR 710,000 MT OF LCV & HCV COAL
COALspot.com - Korea Midland Power Co. Ltd (KOMIPO) has issued a spot supply tender for supply of total 710,000 MT of thermal coal for delivery betw ...
Friday, 29 April 11
HARUM EYES IDR 2.58 TRILLION COAL TAKEOVER
PT Harum Energy Tbk (HRUM), that is controlled by Indonesian tycoon Kiki Barki, is poised to spend Rp 2.58 trillion (approximately US$ 301.296 mln) ...
Friday, 29 April 11
CHINA'S IMPORTS 27 PERCENT LESS COAL IN Q1 2011 - ICAP SHIPPING
ICAP Shipping reported that, China's coal imports in the first quarter were some 27% down on a year ago at 32.3 Mt (2010: 44.4 Mt). Part of the rea ...
Thursday, 28 April 11
BALTIC DRY INDEX NUDGES UP AFTER DAYS OF LOSSES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After consecutive falls, the dry bulk freight market, as followed through the Baltic Dry Index, finally caught a breather yesterday, with the BDI ma ...
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- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Parliament of New Zealand
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- PTC India Limited - India
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
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