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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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Friday, 11 July 14
UNITED STATE'S MONTHLY COAL OUTPUT FALLS 5.53% IN JUNE
COALspot.com – United States the world's second largest coal producer, produced approximately 18.1 million short tons (mmst) of coal in a ...
Thursday, 10 July 14
SGX EXPANDS ACROSS THE BULKS WITH NEW COAL PRODUCTS
COALspot.com: Singapore Exchange (SGX) is expanding its bulk commodity derivatives offering by launching new coking and thermal coal products on 4 ...
Thursday, 10 July 14
HANDY: SMALL INCREASE; PANAMAX: POSITIVE TONE; CAPESIZE: PAPER VALUES REMAIN WEEK
Handy
It is a general increase in activity in both hemispheres whereas rates have just experienced a small increase. In the Feast we see stable a ...
Wednesday, 09 July 14
SHIP INVESTMENTS ARE TRENDING LOWER
Most ship owners are deeming current ship prices on the high side, refraining from making serious commitments in new acquisitions or newbuilding or ...
Wednesday, 09 July 14
INDIAN GOVERNMENT ADVISED POWER UTILITIES TO INCREASE COAL IMPORTS
COALspot.com: The government of India has advised power utilities to increase coal imports to meet fuel shortages and those that have fuel supply p ...
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Showing 3611 to 3615 news of total 6871 |
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- White Energy Company Limited
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
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