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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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Thursday, 11 August 11
INDO TAMBANGRAYA 1H NET PROFIT SOARS 53.09%
Coal miner PT Indo Tambangraya Megah Tbk (ITMG) today reported a 53.09% jump in net profit for the first 6 months of this year on the back of higher ...
Wednesday, 10 August 11
KILLARA RESOURCES TO ACQUIRE SIX COAL CONCESSIONS OF TASON HOLDINGS
COALspot.com - Killara Resources Limited, an Australian listed company has formed PT Tavesco Killara Energy (TKE), a joint company with PT Tavesco I ...
Wednesday, 10 August 11
RESOURCE NATIONALISM IS MAIN BUSINESS RISK FOR MINING SECTORS, E&Y SURVEY
Resource nationalism is top of the business risk list for mining and metals companies around the world, while supply capacity constraint issues cont ...
Wednesday, 10 August 11
INDONESIAN COAL MINING ASSOCIATION OPPOSES LOW-GRADE COAL EXPORT BAN
COALspot.com - The Indonesian Coal Mining Association (ICMA) frowns on and challenges the government plan to ban the low-grade coal export inf ...
Wednesday, 10 August 11
ABM INVESTAMA TO OFFLOAD 20% IPO
Integrated coal mining PT ABM Investama, affiliated company of Tiara Marga Trakindo Group, aims to dispose 20% stake during an initial public offeri ...
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- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- The University of Queensland
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Mercator Lines Limited - India
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
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