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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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Monday, 27 October 14
CFR SOUTH CHINA COAL SWAPS PERFORMED POSITIVE THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q4’ 2014 delivery decreased US$ 1.68 (-2.55%) month over month and increased US$ 0.87 (+1.3 ...
Sunday, 26 October 14
CAPE'S STRONG PERFORMANCE PUSHES BDI INDEX UPWARDS
COALspot.com: The BDI was up by 26.27 pct and closed at 1192 points week and week. The Cape size performance has pushed up BDI and Cape size index ...
Friday, 24 October 14
WEEKLY U.S COAL PRODUCTION DOWN 2.7% FOR THE WEEK ENDING OCTOBER 18
COALspot.com – United States the world's one of largest coal producers, produced approximately 18.7 million short tons (mmst) of coal in ...
Thursday, 23 October 14
THE BEARS, HOWEVER, STILL CRY; FOR HOW LONG WILL IT LAST? - FEARNLEYS
Handy
"We experience a typical oversupply of ships in the Atlantic which causing rates to slide. In the USG it is just enough cargoes to kee ...
Wednesday, 22 October 14
MARKET INSIGHT - THEODORE NTALAKOS, INTERMODAL
ECO designs - revisited
The ECO vessels are already here but the oil and bunker prices are plummeting to their cheapest level since 2010. Is this ...
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- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- White Energy Company Limited
- PTC India Limited - India
- Xindia Steels Limited - India
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- The Treasury - Australian Government
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
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