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Wednesday, 29 February 12
69 MINERS AGREE TO RENEGOTIATE CONTRACTS - THE JAKARTA POST
The Jakarta Post, one of the leading English news papaer in Indonesia reported that, as many as 60 coal contracts-of-work (PKP2B) and nine non-coal mining license (KK) holders have agreed to renegotiate six main points in their contracts with the government, the Energy and Mineral Resources Ministry announced on Tuesday.
The paper further said tht, the six main issues cover the size of mining areas, contract extensions, the amount of royalties to be paid, obligations to process raw materials in Indonesia, divestment and the utilization of local goods and services.
The ministry’s director for minerals and coal, Thamrin Sihite, reported that for mining license holders, in addition to the nine companies, 23 others had partially agreed to renegotiate and five others still disagreed.
“The better progress was made among coal miners because none of them disagreed. Besides the 60 companies, the remaining 14 companies have partially agreed to renegotiate the six main issues,” he told a discussion session at his office in Jakarta.
He also revealed 13 mining firms (five mining license and eight coal of contract holders) were ready to sign amended contracts with the government in the near future.
The signing was actually scheduled this month, but due to several problems, the plan was delayed.
Among the companies are Bangun Benua Persada, Batu Alam Selaras, Iriana Mutiara Idenburg, Karaka Caraka Mulia, Kasongan Bumi Kencana, Paramarta, Selo Argokencono Sakti, Sumber Kurnia Buana, Tambang Mas Sable and Tanjung Alam Jaya.
However, none of the 13 companies are major mining companies like PT Freeport Indonesia, PT Newmont Nusa Tenggara and PT Vale Indonesia (Inco).
“We have also terminated one KK and two PKP2B holders. They are Tripa, Inti Tirta Prima Sakti and Sena Mas Energi Indo. They failed to fulfill investment commitments as proposed,” Thamrin said.
Actually, with the legal basis of the 2009 law, the government could force all mining companies to adjust their contracts; however, in practice, bringing such pressure to bear was difficult because the government’s bargaining position was weak, ReforMiner Institute mining expert Pro Agung Rakhmanto argued.
“The government is afraid the companies will stop their investments in the country. If that happens, the country’s revenues from the mineral and coal mining sector will drop significantly,” he told.
The 2009 Law on Coal and Mineral Resources mandated that all mining contracts in the country have to be adjusted two years after the law was first enacted at the latest.
During the discussion, Thamrin also reported the progress of the reconciliation of mining permits (locally known as IUP) issued by regional administrations nationwide. He said as of Feb. 27, there were 10,235 IUPs registered, yet only 4,151, or around 40 percent of them, had a “clean and clear” status, meaning that they were issued by adhering to proper legal
procedures.
“IUP reconciliation is very important to figuring out the real numbers for our annual mineral and coal production. It will also be very useful to help us in determining how many mining inspectors need to be deployed in the field,” he explained.
“To motivate miners to report their IUPs and make them ‘clean and clear’, we plan to make classification of companies based on their obedience to the government’s regulations and publish it for the public.”
Newmont Nusa Tenggara president director Martiono Hadianto argued that the renegotiation process was not easy because it not only covered royalties, but also many other company obligations.
He suggested that the government improve legal certainty in the country.
“There are many overlapping regulations, starting from the minerals and coal law, forestry regulations and regulations issued by regional governments. We have made contracts with the central government and therefore all clauses must be respected,” he said.
In the renegotiation process, Martiono hoped that the government could listen to the aspirations of mining companies.
Source: The Jakarta Post (Rangga D. Fadillah)
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Thursday, 22 March 12
ECI-CHINA HANDY RATES ARE AROUND US$ 8000 - FEARNLEYS
Handy
Another positive trend was seen last week with more cargoes entering the market. Skaw-Passero/US Gulf climbed slowly up to USD 3700, while US ...
Thursday, 22 March 12
DRY BULK MARKET KEEPS SURGING, CAPESIZES FALLING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what seems to be an establishing pattern, the dry bulk market has kept its upward momentum, edging closer to the 900 point-mark, but the larger s ...
Wednesday, 21 March 12
BUMA HAS PRODUCED 2.3 MILLION TONS OF COAL IN FEBRUARY 2012
COALspot.com - PT. Delta Dunia Makmur's overburden removal in February 2012 has reached totaled 23.8 million bcm (+2.4% YoY) while coal production ...
Tuesday, 20 March 12
SMALLER DRY BULK VESSELS STILL LEADING DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been growing during the past couple of weeks, but contrary to the usual practice, it’s not the larger Capesizes which ...
Monday, 19 March 12
WEEKLY DRY MARKET OVERVIEW: SMALLER VESSELS LEAD RATES HIGHER - MARIA BERTZELETOU, HELLENIC SHIPPING
The upward trend of the Baltic Dry Index persists strong from the end of February, spurred from the supramax market that offsets the weakness in the ...
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- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- The University of Queensland
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- PTC India Limited - India
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
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