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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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Wednesday, 22 October 14
CAPESIZE MARKET REMAINED UNDER PRESSURE
COALspot.com: The Dry Bulk market closed on the red for yet another week although following Friday sentiment has started to improve on the back of ...
Tuesday, 21 October 14
INDIA'S DIESEL DEREGULATION POSITIVE FOR OIL COMPANIES - FITCH
The Indian government's 18 October decision to deregulate diesel prices will have a positive effect on the national oil marketing companies tha ...
Tuesday, 21 October 14
LOW DEMAND PUTTING COAL SWAPS UNDER PRESSURE
COALspot.com: Indonesian coal swaps for delivery Q4' 2014 lost on day, week and month.
The swap has lost US$ 1.57 (-3.04%) month on month ...
Monday, 20 October 14
CHINA'S ENVIRONMENTAL POLICIES DO NOT SPELL THE END FOR COAL - WOOD MACKENZIE
China's environmental policies do not spell the end for coal Analysis across energy commodities show coal still accounting for 64% of power mix ...
Monday, 20 October 14
CFR SOUTH CHINA COAL SWAPS FAILED TO PERFORM POSITIVE
COALspot.com: API 8 CFR South China Coal swap for Q4’ 2014 delivery decreased US$ 3.04 (-4.57%) month over month and US$ 1.75 (-2.68%) week o ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Australian Coal Association
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- The University of Queensland
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Planning Commission, India
- Central Java Power - Indonesia
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
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