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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, 03 August 11
DRY BULK MARKET SINKS TO THREE-MONTH LOWS, BUT CAPESIZES COULD TURN THINGS AROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on falling this week, on the back of slow cargo demand amid the summer season. Yesterday, the BDI (Baltic Dry Index), the i ...
Tuesday, 02 August 11
INDONESIA BECOMES SECOND LARGEST COKING COAL EXPORTER
COALspot.com - Indonesia, the largest thermal coal exporter in the world now becomes second biggest coking coal exporter to Japan. Indonesian’ ...
Tuesday, 02 August 11
5TH ASIA PACIFIC COAL TRADING & INVESTMENT OUTLOOK TO PRESENT LATEST TRENDS
Press Release - Global commodities prices have been staying high since the beginning of 2011, resulting in the “TENSION” in various coun ...
Tuesday, 02 August 11
REALM RESOURCES TO ACQUIRE A 75% INTEREST IN THE KATINGAN RIA COAL PROJECT
COALspot.com - Scoping study at the Katingan Ria Coal Project, Central Kalimantan demonstrates positive technical and financial potential for the pr ...
Tuesday, 02 August 11
COAL INDIA TO INVEST IN GOLDEN ENERGY MINES
COALspot.com - Golden Energy Mines, part of PT Dian Swastatika Sentosa Tbk’s, is still negotiating with several strategic investors to o ...
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- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Australian Coal Association
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
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