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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, 05 March 12
SOUTHGOBI ANNOUNCES AGREEMENT TO SELL ITS THERMAL COAL TSAGAAN TOLGOI DEPOSIT FOR US$ 30 MILLION
SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) announced today an agreement to sell its thermal coal property, the Tsagaan Tolgoi Deposit to Modun Re ...
Monday, 05 March 12
SOME RESOURCE TITANS NOT THRILLED WITH INDONESIAN EXPORT BAN - THE JAKARTA GLOBE
The Jakarta Globe reported that, local representatives of major business associations in East Kalimantan have protested a government regulation that ...
Monday, 05 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
An air of optimism poured in the market this week for dry bulk shippers with the Baltic Dry Index recording daily gains during the end of February b ...
Sunday, 04 March 12
SE ASIA WAS FIRM FOR TRIPS TO INDIA AND CHINA - VISTAAR
COALspot.com - This week saw another upward trend with all indices up and generally market was firm.
The BDI was up by 7.38 pct closing at 771 po ...
Friday, 02 March 12
DJMBP HAS ANNOUNCED SECOND BATCH OF CLEAR N CLEAN CERTIFIED MINERS
COALspot.com - The Directorate general of mineral & coal of Indonesia has announced second batch of companies who have passed IUP Clear and Clea ...
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- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Parliament of New Zealand
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- PowerSource Philippines DevCo
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
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