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Sunday, 28 September 14
BERAU AGREES DEAL WITH GOVT, MINING AREA REDUCED - THE JAKARTA POST
 Coal miner PT Berau Coal, a subsidiary of Jakarta-listed PT Berau Coal Energy (BRAU), has signed a memorandum of understanding (MoU) with the government regarding detailed talks on the company’s coal-mining contract of work (CCoW) on Friday morning, as part of a series of contract renegotiations between the ministry and miners to comply with the 2009 Mining Law, as reported by The Jakarta post yesterday.
The Energy and Mineral Resources Ministry’s director for coal, Bambang Tjahjono, said his office and Berau Coal signed the MoU on Friday morning and under the MoU, Berau Coal has agreed on principal to adjustments to a number of aspects of its CCoW, including the size of its mining area and a royalty payment to the government of 13.5 percent, the paper further said.
“We will now move forward to draft the contract amendment, in which we will adjust several issues until the company’s contract of work expires, after the expiry date, all matters will be based on the prevailing law.” Bambang said, as quoted by paper.
Berau Coal has also in principal agreed to reduce its mining area by 10,391 hectares, the reduction means the company will only manage 108,009 ha until its CCoW expires in 2025, from its previous 118,400 ha., according to Bambang.
Under the Mining Law, coal-mining concessions are limited to 15,000 ha. “After the contract expires, all will be according to the law; even more sites will be released,” Bambang said, according to paper.
According to paper, Neither Berau Coal president director Amir Sambodo nor general manager for corporate communication Singgih Widagdo replied to text and phone calls from The Jakarta Post seeking confirmation.
The government has been struggling to renegotiate numerous coal and mineral contracts of work (CoWs) to comply with the law, the renegotiations are focused on six issues, adjustments in income to the state; adjustments to the size of mining areas; obligations of divestment; obligations for domestic processing; continuity of operations; and obligations to use local goods and services, the paper said.
Seventy-three CCoWs and 34 mineral non-coal CoWs need to be renegotiated. Berau Coal’s MoU signing follows previous deals between the government and other big coal players, including PT Kaltim Prima Coal (KPC), PT Arutmin Indonesia and PT Adaro Indonesia.
Under its MoU with the government, KPC agrees to reduce its mining size to 84,938 ha from its current 90,938 ha. Arutmin’s mining area will be cut to 55,573 ha from 58,898 ha. Meanwhile, Adaro has agreed to release around 6,000 ha of its 34,940 ha.
The paper further said, the signing of the MoUs also means that the companies have in principal agreed to see their CoWs, which vary from one company to another, changed into coal-mining permits, which apply in general according to the law, in return for extensions to their operations.
“However, a decision on extension — if any — will be determined by the new government, and it will consider the company’s performance in good mining practices and the fulfillment of its obligations to the government,” Sukhyar said.
Companies are allowed to apply for operating extensions two years prior to their expiry date. The extension is limited to two extensions of 10 years.
Arutmin’s CCoW will expire in 2019 and that of its sister company KPC in 2021, while Adaro’s CCoW will last until 2022.
Source: The Jakarta Post
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Thursday, 20 November 14
MOST MAJOR ASIAN ECONOMIES TO BENEFIT FROM LOWER OIL - FITCH
COALspot.com: The 25% drop in the price of oil since July is likely to lift economic growth prospects, improve terms of trade, and have a pot ...
Thursday, 20 November 14
HANDY: INDO ROUNDS ARE BEING FIXED IN REGION OF US$ 10K - FEARNLEYS
Handy
In the Atlantic we have experienced firmer rates this week much lead by the grain activity out of USG. Vsls open in the USG can achieve in ...
Thursday, 20 November 14
DEMAND FOR DRY BULK CARRIERS INCREASES ON THE BACK OF HEIGHTENED FREIGHT RATE MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners are looking to take advantage of favorable market conditions through the acquisition of more dry bulk carriers. According to shipbroker ...
Wednesday, 19 November 14
INDONESIA FUEL-PRICE RISE A CLEAR, POSITIVE REFORM SIGNAL - FITCH
COALspot.com: Indonesia's hike of more than 30% in administered fuel prices, announced on 17 November, provides a clear, positive signal of the ...
Wednesday, 19 November 14
CAPES WERE UNDER PRESSURE; LOST 20% WITHIN A WEEK
COALspot.com: " The negative environment in which the week prior ended, marked this past week as well, which closed off on Friday noting the f ...
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- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Planning Commission, India
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
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