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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, 14 September 14
FREIGHT RATES RALLY AS DEMAND INCREASED
COALspot.com: The Baltic Dry Index (BDI) is a number (in US$) issued daily by the London-based Baltic Exchange up 2.25 percent week on week. BDI cl ...
Friday, 12 September 14
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALED 673.3 MMST, SAYS EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 19.20 million short tons (mmst) of coal in ...
Thursday, 11 September 14
THE PANAMAX MARKET IS TAKING A BREATHER - FEARNLEYS
Handy
We have experienced more activity in both hemispheres this week, said Fearnleys in this week's weekly report.
"We see rates c ...
Wednesday, 10 September 14
ARE GREEK BANKS ON THE VERGE TO START LENDING AGAIN? - JOHN N. COTZIAS
It is well known that Greek Banks had suffered severely after the economic crisis of 2008. From that period onwards, major changes have occur ...
Tuesday, 09 September 14
WEAK M&A DESPITE ABUNDANT DISTRESSED INDONESIA COAL ASSETS - FITCH RATINGS
COALspot.com: Fitch Ratings says that a meaningful level of merger and acquisition (M&A) activity leading to a consolidation of the coal sector ...
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- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
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- Global Business Power Corporation, Philippines
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- White Energy Company Limited
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- Bahari Cakrawala Sebuku - Indonesia
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- Ministry of Finance - Indonesia
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- New Zealand Coal & Carbon
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- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
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- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
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- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- MS Steel International - UAE
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- Chamber of Mines of South Africa
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- Gujarat Mineral Development Corp Ltd - India
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- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
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- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
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- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Planning Commission, India
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
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- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
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- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
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- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
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- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
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- Bangladesh Power Developement Board
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
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- Central Electricity Authority - India
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
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- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
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