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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, 15 March 12
RESOURCE ALAM FY11 PROFIT UP 171% - INSIDER STORIES
Insider Stories reported that, coal mining company PT Resource Alam Indonesia Tbk (KKGI) reported a 171.16% jump in net profit last year on the back ...
Wednesday, 14 March 12
GLOBAL THERMAL TRADE FLOW CHANGES WILL ENSURE SECURITY OF THERMAL COAL SUPPLY, ALBEIT AT A HIGH PRICE - WOOD MACKENZIE
Wood Mackenzie Says Global Thermal Trade Flow Changes Will Ensure Security of Thermal Coal Supply, Albeit At a High Price Seaborne thermal demand by ...
Wednesday, 14 March 12
COKAL TAKES ANOTHER STEP IN DEVELOPING INFRASTRUCTURE TO FACILITATE METALLURGICAL COAL PRODUCTION
Global coal group, Cokal Limited (ASX-CKA), has signed Memorandums of Understanding (MoU’s) to develop two river ports and two small scale coa ...
Tuesday, 13 March 12
CLARIFICATION OF GR 24 OF 2012 REQUIRING DIVESTMENT OF FOREIGN OWNERSHIP OVER TIME
ASX Announcement
Global metallurgical coal group, Cokal Limited (ASX-CKA), is responding to the recent announcement of the Indonesian Ministry of ...
Tuesday, 13 March 12
EUROPEAN COAL CONTANGO: FURTHER STEEPNESS REQUIRED TO MAKE LARGE SCALE PHYSICAL TIME SPREAD ARBITRAGE MORE ATTRACTIVE - MISWIN MAHESH, BARCLAYS CAPITAL
COALspot.com - "With the contango between the Y+1 and M+1 ARA delivered contract now averaging above the $14/t level, there is an increasing in ...
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- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- PTC India Limited - India
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Planning Commission, India
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
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