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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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Wednesday, 17 August 11
TAVESCO KILLARA ENERGY TO ACQUIRE COAL CONCESSIONS IN EAST KALIMANTAN
COALspot.com - Killara Resources Limited, an Australian listed company has formed PT Tavesco Killara Energy (TKE), a joint company with PT Tavesco I ...
Wednesday, 17 August 11
BUMI'S H1 UNDERLYING OPERATING PROFIT $62 MILLION
COALspot.com - Bumi PLC , posted underlying first-half operating profit of $62 million and production at PT Bumi Resources and PT Berau increased to ...
Wednesday, 17 August 11
SHIP OWNERS COULD FACE PAIN ON THE BACK OF GLOOMY ECONOMYS PREDICTIONS - HELLENIC SHIPPING
The latest market turmoil, coupled with the renewed risk of a global recession could very well signal more troubled times for ship owners of all shi ...
Tuesday, 16 August 11
CHALLENGER ENTERED INTO CSPA WITH PELANGI KERTANEGARA TO ACQUIRE 100% STAKE
COALspot.com - Challenger Deep Resources Corp., through its wholly owned subsidiary, P.T. Bestindo Energy, has exercised its option to purchase an a ...
Monday, 15 August 11
ADARO ENERGYS NET INCOME MORE THAN DOUBLES IN FIRST HALF 2011
COALspot.com - Indonesian’s second largest coal producer, Adaro Energy, booked net profit US$ 268 million in the first half 2011, rose two-fol ...
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- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- PTC India Limited - India
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- White Energy Company Limited
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
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