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Wednesday, 02 July 14
NEWMONT FILES FOR INTERNATIONAL ARBITRATION ON ORE EXPORT BAN - THE JAKARTA POST
 PT Newmont Nusa Tenggara (NNT), a subsidiary of United States-based Newmont Corporation, has filed for international arbitration against the government over its ore-export ban policy, which the company claims has cost it dearly, as quoted by The Jakarta post, one of the leading English news papers in Indoneisa.
The Jakarta post further reported, the firm had filed the arbitration with the Washington-based International Center for the Settlement of Investment Disputes (ICSID), requesting an interim solution to allow NNT to resume exporting copper concentrate so that its Batu Hijau mine could resume operations, it said in a press statement on Tuesday.
The ore-export ban, which became effective on Jan. 12, had halted NNT’s Batu Hijau production and violated both the contract of work (CoW) between the company, in which Dutch firm Nusa Tenggara Partnership BV has a major shareholding, and the government, as well as a bilateral treaty between Indonesia and the Netherlands, said the company, JP said.
“Despite our best efforts over the last six months to resolve the export issues through good faith commitments to supporting the government’s policy, NNT has been unable to convince the government that our CoW should guide resolution of our differences,” said NNT president director Martiono Hadianto in a statement, Quoted by the Jakarta post.
Energy and Mineral Resources Ministry director general for minerals and coal R. Sukhyar said that the government would first examine details of the filing before taking any measures.
“We regret the firm’s decision […] We believe that everything can actually be settled,” he said.
“This situation will put a stop to our renegotiation process with the firm for some time,” he added.
As reported by The Jakarta post, Sukhyar said that NNT had previously conveyed its disappointment with the government’s ore-export ban and had declared force majeure despite intense discussion about the policy.
The ore-export ban requires mining firms in the country to export only processed minerals in a bid to develop the country’s downstream industry and provide added-value for exported mineral products.
The government has relaxed the regulations by allowing mining firms to continue exporting their mineral concentrates until 2017, when they will all be required to fully process their mineral products either in jointly owned smelters or in their own smelters.
During the interim period before 2017, the government has decided to impose progressive export duties ranging from 25 percent this year to 60 percent in 2016.
NNT previously said it would pay US$25 million to the government as a guarantee, known as a surety bond, of its commitment to build a smelter in the country in return for an export permit for its current semi-finished mineral with 95 percent copper concentrate.
Sukhyar said, however, that Newmont’s commitment to paying the bond had not yet materialized. Meanwhile, PT Freeport Indonesia which is the local arm of US-based mining giant Freeport McMoRan Gold & Copper Inc., has recently deposited $115 million in a surety bond, he said.
Sukhyar said, however, that his ministry had yet to grant an export permit to Freeport. “We will first continue our negotiations with Freeport on getting a memorandum of understanding [MoU] on issues such as royalty payments and contract extension. When that’s done, we will move on to the export permit,” he said.
According to The Jakarta Post, In addition to the Energy Ministry, Coordinating Economic Minister Chairul Tanjung has also repeatedly announced that the government was working on an MoU that would be legally binding on the next government.
One of the points in the MoU was a guarantee for Freeport, which operates the world’s second-largest copper mine and the world’s largest gold reserves in remote Papua, to extend its operation after its contract expires in 2021.
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Monday, 14 July 14
SGX CFR SOUTH CHINA COAL SWAP FOR Q3' 14 LOST 17.29% SINCE EARLY JANUARY 2014
COALspot.com: Coal price falling is continues as the impact oversupply and lower demand. API 8 CFR South China Coal swap for delivery in Q3 drops U ...
Sunday, 13 July 14
PANAMAX INDEX GAINS SLIGHTLY THIS WEEK; CAPE INDEX FALLS ALMOST 21.40%
COALspot.com: This week the freight market fell again after gaining last week. The cape index was down almost 21.40 pct and closed at 1465 points.
...
Friday, 11 July 14
EUROPE HAS A SUBSTANTIAL SURPLUS IN COAL SUPPLIES; RENEWABLE ENERGIES ARE REDUCING THE FULL-LOAD OPERATING HOURS OF HARD COAL-FIRED POWER PLANTS - VDKI
COALspot.com: General conditions for coal-fired power plants must be improved if the energy turnaround is to be a success, said German coal importe ...
Friday, 11 July 14
DR.CIESLIK RE-ELECTED AS CEO OF GERMAN COAL IMPORTER ASSOCIATION (VDKI)
Press Release : Dr Cieslik re-elected as CEO of German Coal Importer Association (VDKi) for the period 2014 – 2018. The German Coal Importer ...
Friday, 11 July 14
PORT OF NEWCASTLE SHIPPED $ 1.031 BILLION WORTH OF 11.744 MILLION TONS OF COAL IN JUNE 2014
COALspot.com: Port of Newcastle has shipped 11,744,396 tons of coal for the month ended 30 June 2014. According to Port’s monthly report, YTD ...
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Showing 3606 to 3610 news of total 6871 |
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- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Australian Coal Association
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- PTC India Limited - India
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
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