We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Tuesday, 27 December 11
MINERS MAKE CASE FOR RESUMING CONTRACT NEGOTIATIONS - THE JAKARTA POST
The Jakarta Post reported that, problems with the renegotiation of mining contracts in the country are far from over, as agreements on several crucial issues are still yet to be found.
The government remains adamant that it will not compromise on its intention to ramp up state revenues by increasing royalties, while miners on the other hand insist that some points in the 2009 minerals and coal law are “irrational” and may create uncertainty in terms of the outcome of their investments.
The Indonesian Mining Association (IMA) revealed that renegotiations had stalled due to three major issues: the size of mining areas, state revenues and contract extensions.
In a bid to make progress on the stagnant talks between the government and miners, the association proposed solutions to the three issues based on what it saw as fair for both parties. With the proposals, it expected that deals would be made, which would foster an air of certainty in relation to operations.
On the issue of state revenues, the association claimed that it was hard for mining companies to adjust the amount of royalties to the level set by the government in the 2003 regulation on tariffs for non-tax revenues for the energy and mineral resources sector (3.75 percent of sales for gold, 3.25 percent for silver and 4 percent for copper).
“If the government wants to raise royalties, it also has to think about other financial obligations paid by companies, such as the corporate income tax, the amount of which is still 35 percent even though the 2008 law on income tax revised it to 25 percent,” said Syahrir AB, an executive director of the IMA, in Jakarta on Monday.
The government could not force mining companies to pay higher royalties without adjusting its other financial obligations because such economic burdens would reduce the profitability of their projects, he explained.
If the goal was to raise state revenues from the mining sector, he suggested that the government apply a threshold for mining companies’ profits. For example, if a company made a profit margin of more than 25 percent due to the soaring prices of commodities, the government could apply an additional tax, he added.
The second suggestion was related to the size of mining areas. The association said most mining companies needed at least 70,000 hectares to make a mining project “economical”. However, the 2009 law on minerals and coal determined that the maximum size for mineral mining was 25,000 hectares, with coal mining at 15,000 hectares.
“In our last meeting with the government, it understood our reasons. The government agreed that the size of an area granted to a company would be judged based on the long-term plan it proposed to the government,” Syahrir reported.
That model requires the Energy and Mineral Resources Ministry to have the human resources to review the plan and judge whether the size of area proposed by a company is reasonable or not. If the reviewers say that the proposal is unreasonable, the government can grant the permit for a smaller area.
The third suggestion was about the contract extension. Currently, mining companies can extend the contract by “two times 10 years”, but the authority to grant approval for the extension is in the hands of the head of regions by issuing mining permits. The association deems that the model creates uncertainty over the future of mining projects. It suggests that the contract extension clause is included into mining contracts (KK) and contracts of work (PKP2B).
The director general for minerals and coal at the Energy and Mineral Resources Ministry, Thamrin Sihite, said that out of 42 mining contract holders and 76 contracts of work, there were companies that agreed to all renegotiation points, and some that partially agreed and disagreed.
“About the suggestion in relation to the size of area, the government will review it first, if the proposal is in line with the government vision, we may approve it,” he said over the phone.
However, he reminded that renegotiations had to be looked at on case by case basis as each company had different problems.
IMA proposals:
•The implementation of a profit threshold to allow the government to tax mining companies if the latter’s profit margins exceed the threshold.
•Determine the mining area based on the profitability of each mining project. The IMA estimates that a company needs at least 70,000 hectares to make a project profitable.
•Contract extensions have to be included into mining contracts (KK) and contracts of work (PKP2B) to create certainty.
Source: The Jakarta Post
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Monday, 16 January 12
BUMA MINED 2.7 MILLION TONS COAL LAST MONTH
COALspot.com - BUMA has mined 2.7 million tons (-14.1% YoY) coal last month and removed 25.8 million bcm (-5.6% YoY) overburden, according to compan ...
Sunday, 15 January 12
THE FREIGHT MARKET CONTINUED TO BLEED - VISTAAR
COALspot.com - "The markets continued to bleed with BDI touching almost 1000 points , almost reaching the collapse of 2008 levels," said C ...
Saturday, 14 January 12
GOLDEN MINES TO SUPPLY 4 MIO TONS - INSIDER STORIES
Insider Stories reported that, Coal miner under Sinarmas Group PT Golden Energy Mines Tbk (GEMS), a subsidiary of PT Dian Swastatika Sentosa Tbk (DS ...
Friday, 13 January 12
DIFFICULT START OF 2012 FOR DRY BULK MARKET SEEN HARD TO CHANGE IN THE COURSE OF THE YEAR, UNLESS DEMOLITION PICKS UP
The dry bulk market has been on a freefall this week after a rocky start to the new year. Yesterday, the BDI (Baltic Dry Index) the industry's benc ...
Thursday, 12 January 12
DRY BULK MARKET CRASHING AT START OF THE YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept being on freefall mode yesterday, with the industry's benchmark, the BDI (Baltic Dry Index) losing a massive 5.17% on ...
|
|
|
Showing 4886 to 4890 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- The University of Queensland
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Planning Commission, India
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
|
| |
| |
|
