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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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Monday, 15 August 11
INDIAS MALABAR CEMENTS SEEK TO IMPORT 40,000 TONS OF COAL
COALspot.com - Malabar Cements Ltd., India's Keralaa government owned cement factory is seeking to import 40K metric tons of non-coking coal throug ...
Sunday, 14 August 11
SUPRAMAX CHARTER RATES SHARPLY UP - CAPT.REDDY
COALspot.com - The BDI ended positive with gains in Cape and Panamax index. The BDI was up by 1.50 pct and the cape and panamax index was up by almo ...
Saturday, 13 August 11
GMR HAS ENTERED INTO CSPA WITH GEMS TO ACQUIRE 30% STAKE
COALspot.com - GMR Infrastructure Investments (Singapore) Pte Ltd, a subsidiary of GMR Infrastructure, has signed conditional sale and purchase agre ...
Friday, 12 August 11
COAL MINERS WILL ALLOW TO CONSTRUCT MINE MOUTH POWER PLANT
COALspot.com - The government is set to draft a regulation to enable construction of steam-fired power plants (PLTU) by coal mining companies for th ...
Friday, 12 August 11
CAPESIZE DEMAND HELPS LIFTING OF DRY BULK MARKET - HELLENIC SHIPPING NEWS
The dry bulk market has recovered a small fraction of its lost ground this week, with higher returns as a result of increased capesize demand. This ...
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- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- The University of Queensland
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
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