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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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Sunday, 09 November 14
CAPE INDEX UP 3.06%; PANAMAX INDEX FELL 4.05%
COALspot.com: The BDI was almost at same levels compared to last week closing or just increased 0.77 pct from last week. The BDI was closed at 1437 ...
Friday, 07 November 14
U.S. PRODUCED 85.60 MILLION SHORT TONS OF COAL IN OCTOBER, UP 2.88% M-O-M
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.0 million short tons (mmst) of coal ...
Thursday, 06 November 14
THE ATLANTIC HAS REMAINED STRONG WITH A HEALTHY SUPPLY OF NEW CARGOES
Handy
This week has continued its slow trend in both hemispheres and even though rates are a bit up w-o-w it is not a clear sign for any improvem ...
Wednesday, 05 November 14
CAPESIZE SEGMENT ENJOYED FIRMING RATES ACROSS BOTH BASINS
Following a fantastic week in terms of rate performance for Capes, the Dry Bulk market managed to note another positive weekly closing, which stron ...
Wednesday, 05 November 14
SHIPPING MARKET INSIGHT - PANOS TSILINGIRIS
COALspot.com: The steep appreciation in dry bulker values between late 2012 and March 2014 resulted in unrealistically expensive ship values compar ...
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- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- The University of Queensland
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Australian Coal Association
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
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