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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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Tuesday, 09 August 11
INDONESIAS COAL PRODUCTION GREW BY 19.4% LAST YEAR - BP
COALspot.com - Indonesia’s coal production grew by 19.4% last year to 305.879 million tonnes from 256.181 million tonnes in 2009, the fastest ...
Tuesday, 09 August 11
DRY BULK MARKET UNABLE TO FIND UPWARD MOMENTUM, SLUMPS AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
They same that what goes up must come down and nobody seems to have found a better application of this expression, than the beleguered dry bulk mark ...
Monday, 08 August 11
OIL PRICES ARE SOFTENING, WILL IT INFLUENCE COAL PRICES?
COALspot.com - The current global economic condition is in volatility after a little chance of optimism for economic recovery.
Oil price at ...
Monday, 08 August 11
A SUPRAMAX VESSEL WAS REPORTED FIXED AT $ 12K - VISTAAR
COALspot.com - The BDI was slightly up by about 4 points closed at 1268 points which was supported by cape index which was up 3.14 pct and closed at ...
Saturday, 06 August 11
NTPC IS CONSIDERING TO ENTER INTO 25 YEARS COAL PURCHASE AGREEMENT
Indian, State-run power producer NTPC's present annual consumption is 164 million tonnes, and company is considering long-term agreements abroad to ...
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- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- White Energy Company Limited
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Planning Commission, India
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- London Commodity Brokers - England
- Central Java Power - Indonesia
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
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