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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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Monday, 12 March 12
DELTA DUNIA 1M OVERBURDEN DROPS 3.1% - INSIDER STORIES
Insider Stories reported that, Indonesia's second largest coal mining contractor PT Delta Dunia Makmur Tbk (DOID) reported a 25 million bank ...
Monday, 12 March 12
DRY BULK RATES WILL REMAIN LOW IN 2012 SAYS DANISH SHIP FINANCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its annual shipping survey Danish Ship Finance said that the current outlook for the Dry Bulk market seems unlikely to foster higher rates in any ...
Monday, 12 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The first days of March appear to be more encouraging for dry bulk operators, but the outlook is still gloomy for the rest of year with earnings for ...
Sunday, 11 March 12
FREIGHT RATES FOR INDONESIA TO INDIA WILL CONTINUE TO REMAIN FIRM- VISTAAR
COALspot.com - This week saw another upward trend with all indices up except for the Cape index.
The BDI was up by 6.87 pct closing at 824 points ...
Friday, 09 March 12
MINING IN INDONESIA: RESTRICTION ON FOREIGN INVESTMENT - SUNIL K KUMBHAT
COALspot.com - Recently Govt has passed regulation instructing foreign mining companies to reduce their ownership stake.
The regulation known as ...
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- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Australian Coal Association
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Planning Commission, India
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
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