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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, 27 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The pessimism in the dry market persists with the Baltic Dry Index still trying to find a steady pace of growth and average time charter earnings fo ...
Sunday, 26 February 12
THE FREIGHT RATES FOR INDONESIA TO INDIA IS LIKELY TO BE FIRM FOR NEXT 2/3 WEEKS - VISTAAR
COALspot.com – “There was not much change in the BDI and other indices this week except for the Panamax which was down by 11.91 pc ...
Friday, 24 February 12
DRY BULK MARKET POSTS FIRST REBOUND IN A WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was expected since mid-week, the dry bulk market's benchmark, the BDI (Baltic Dry Index) has managed to put a stop in a 6-day losing rally, endi ...
Thursday, 23 February 12
2.5 PANAMAX VESSELS PER AVAILABLE CARGO FOR MARCH DATES - FEARN BULK
Handy
Another depressing week for Supras in both basins. Lack of fresh business and over-supply of tonnage in the Atlantic pushed rates south. Cont ...
Wednesday, 22 February 12
RAW COMMODITY EXPORT BAN SPARKS SMELTER BUILDING BOOM IN INDONESIA ANTARA / THE JAKARTA GLOBE
Antara / The Jakarta Globe reported that, as the government gears up to ban all exports of unprocessed commodities, Indonesia will see 12 new ...
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- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Planning Commission, India
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- The University of Queensland
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- White Energy Company Limited
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
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