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Friday, 24 June 11
THE INDONESIAN GOVERNMENT WILL NOT EXTEND ALL EXPIRED MINING CONTRACTS - JAKARTA UPDATES
 The Indonesian Government have decided not to extend all mining concessions under the scheme called Contract of Work and instead will take over the mining management which in essence nationalize it and renegotiate the right with the company or with other companies.
“If a company contract period is expired, it will not be extended. (The area) must be returned to the state first. If the foreign investors still want to continue, they will have to negotiate again. For example, say a contract with Inalum expired in 2013, yes, it run out right away, “said Coordinating Minister Hatta Rajasa in Jakarta, Tuesday (07/06/2011).
According to Hatta, the renegotiation of mining contracts of work needs to be done because there is potential lost from non-tax revenue to the state from the energy and mineral resources sector. The Government believes the royalties from the sale of Indonesia’s mining goods is too small compare to the sale value.
“There is potential lost of non-tax revenues, so renegotiation must be done. We all know that nickel mine is large, but the royalties is only 0.28 percent, while Freeport Indonesia only pays 1 percent (royalty), and Antam (Aneka Tambang), only 3.5 percent. This is not fair “said Hatta.
At the moment there are 42 mining companies operate under Contract of Work and 76 operate under the old coal mining works agreement. Amongst those are big companies such as PT Freeport Indonesia and PT Newmont Nusa Tenggara.
Strategic mineral resources exploitation as a commodity has become increasingly out of control with the implementation of regional autonomy as a result of reformation movement. The government reported that there are approximately 8,000 mining permit issued by local governments. The regional autonomy has allowed regency to grant mining permit while before reformation movement, a mining permit must be approved by the President as well as the People Representative.
The condition is increasingly opened up opportunities for foreign direct control of coal and mineral resources. Foreign mining companies, particularly from China and India, control small to medium mining operation in Indonesia by funding local companies.
“Without realizing it, we’ve become the upstream resources to China and India. The two countries are very aggressively when looking for coal resources as a substitute for foreign oil, mean while their oil and gas reserves are deliberately kept intact ” said Singgih Widagdo, Indonesian Coal Society Executive Director.
It is not clear on how the Government of Indonesia is going to fund the mining operation if big company such as PT Freeport Indonesia or PT Newmont Nusa Tenggara packs up their bags and leave as they will obviously be taking all of their equipment with them. This strategy could back fire and devoid the state from these companies income tax which undoubtedly a lot bigger than the royalty.
One would think that by simply issuing regulation to increase the royalty will be a lot easier for everyone to deal with.
Source: Jakarta Updates
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Friday, 19 August 11
AUSTRALIAS' ATH TO ACQUIRE 60% OF APUAH COAL MINE IN INDONESIA
COALspot.com - Australian listed company, Atech Holdings Limited (ATH) has entered into a conditional binding term sheet to acquire 60 percent stake ...
Friday, 19 August 11
INDIA IMPORTS LESS INDONESIAN COAL THAN CHINA IN JULY
COALspot.com - Indonesia shipped 31.30 Million tons of coal in July 2011, up by 10.69 percent compared to June's export of about 28.27 ...
Thursday, 18 August 11
INDONESIAS PROPOSED LOW GRADE COAL EXPORT BAN WILL NOT HAVE A SIGNIFICANT IMPACT ON INDIA - MISWIN MAHESH
COALspot.com - The Indonesian government is currently in the process of drafting a new regulation that could ban the export of low-grade coal by Jan ...
Thursday, 18 August 11
MARUBENI ACQUIRED 42.86% OF YTL JAWA POWER
COALspot.com - Marubeni Corporation (Marubeni) has completed the acquisition of 42.86 percent of the shares of YTL Jawa Power Holdings BV from YTL P ...
Wednesday, 17 August 11
CME LAUNCHES ARGUS COKING COAL SWAP FUTURES
COALspot.com - Argus media reported that, leading exchange CME Group will list an Australian coking coal swap futures contract for trading on the Ny ...
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- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Parliament of New Zealand
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- SMG Consultants - Indonesia
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
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