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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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- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
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