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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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Sunday, 19 February 12
THE SPOT FIXTURE RATES WERE REPORTED AT HIGH LEVELS - VISTAAR
COALspot.com - "The markets seems to holding back this week appears the momentum which picked up last week may slow down" - Capt. Reddy of ...
Sunday, 19 February 12
INDIKA ACQUIRES MULTI TAMBANGJAYA - INSIDER STORIES
Insider Stories reported that, PT Indika Energy Tbk (INDY) announced that wholly-owned subsidiaries have signed a conditional sale and purchase agre ...
Friday, 17 February 12
COLOMBIA COAL PRODUCTION, EXPORTS JUMP IN 2011: GOVT - COLOMBIA REPORTS
Colombia Reports reported that, colombia's coal production jumped 15.4% in 2011 to 85.8 million tonnes versus the previous year while exports rose ...
Thursday, 16 February 12
GEARING UP FOR THE EMERGING OIL & GAS OPPORTUNITIES IN MYANMAR
Press Release - Myanmar Ministry of Energy and Centre for Management Technology (CMT) to Co-host MOGP (Myanmar Oil, Gas & Power) Summit on 28 - ...
Wednesday, 15 February 12
HBA FOR FEB 2012, CLIMBS 2.09 PERCENT AND REACHED US$ 111.58 PER TON
COALspot.com - The Indonesian coal reference price for February climbs 2.09 percent to US$111.58 per ton after losing past three months. ...
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- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- The University of Queensland
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
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