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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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Friday, 09 March 12
SHIP OWNERS LOOKING TO CHINA FOR REVIVAL, WHILE THEY KEEP SELLING OLD SHIPS FOR SCRAP - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With China’s economic policy plan for the future on every ship owner’s mind, at least those involved in the dry bulk industry, the lates ...
Thursday, 08 March 12
INDONESIA'S COAL SECTOR CAN BENEFIT FROM CLEARER REGULATIONS - FITCH RATINGS
Fitch Ratings says Indonesia's coal mining sector should continue to see strong growth prospects but can benefit from clearer and more predictable ...
Thursday, 08 March 12
DRY BULK MARKET ON THE RISE; CHINAS COAL IMPORTS COULD INCREASE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on rising back to healthier levels yesterday, with the BDI (Baltic Dry Index) the industry’s benchmark, marking its 8 ...
Wednesday, 07 March 12
INDONESIA COAL BENCHMARK PRICE GAINS FOR SECOND MONTH
COALspot.com - Indonesia raised the monthly coal reference price for sales in March by 1.15 percent, the second increase since February.
The Mini ...
Wednesday, 07 March 12
INDONESIA TO LIMIT FOREIGN OWNERSHIP IN MINES TO 49 PERCENT WITHIN 10 YEARS OF PRODUCTION
COALspot.com - Foreign holders of mining licenses in Indonesia have to divert 51% of their stakes to Indonesian government or domestic entitie ...
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Showing 4816 to 4820 news of total 6871 |
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- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Planning Commission, India
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- White Energy Company Limited
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
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