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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
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Monday, 28 November 11
CITING CONTRACTS, MINING FIRMS ARE NOT PAYING ROYALTIES UNDER LAW - THE JAKARTA POST
The Jakarta Post reported that, when the 2009 Law on Minerals and Coal was endorsed, hopes that Indonesia could maximize its revenue from the minera ...
Monday, 28 November 11
NEW ENVIRONMENTAL MARINE REGULATIONS TO IMPACT SHIPPING IN 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
August of next year will see some major changes for marine navigation. It’s when the North American ECA will come into force, introducing a 1% ...
Sunday, 27 November 11
INDIA'S KPCL TO IMPORT 50 MMT OF COAL FOR 10 YEARS
COALspot.com - Karnataka Power Corporation Limited (KPCL) will buy 5 million metric tonnes of coal annually for 10 years starting from 2015.
In a ...
Saturday, 26 November 11
INDIAN PORTS ARE BECOME COAL STOCKPILES..!!
COALspot.com - The Indian coal stocks and power tariff situation is the hot topic among the world coal producers as well as Indian coal importers.&n ...
Saturday, 26 November 11
THE FREIGHT MARKETS EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The market were down probably with the sentiments of global financial markets and all segments were down.
The BDI was up down by 4 ...
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- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Australian Coal Association
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
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