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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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Sunday, 31 July 11
CAPES ARE TRADING BELOW $ 9500 PER DAY - VISTAAR
COALspot.com - The BDI further softened by 4.46 pct and closed at 1264 points which touched below 1300 points after long time. The Cape and Panamax ...
Friday, 29 July 11
5300 ADB COAL WILL BE AT US$ 60/TON IN THIS QUARTER - RAIN
COALspot.com - PT Resource Alam Indonesia Tbk (KKGI) seeing the average selling price of its coal for the third quarter of this year will increase t ...
Thursday, 28 July 11
PTBA'S COAL PRICES UP IN H1 2011
COALspot.com - Bukit Asam’s coal prices in the second half of 2011 will expected to be higher than the first half of this year, said Sukrisno, ...
Thursday, 28 July 11
RESOURCE ALAM 1H PROFIT SURGES 208 PERCENT
Indonesia's tenth largest coal miner in term of concessions, PT Resource Alam Indonesia (KKGI), part of Rain Group, today reported a skyrocket net ...
Thursday, 28 July 11
DRY BULK MARKET EDGES FURTHER DOWN ON ADDED PRESSURE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The Baltic Dry Index (BDI), an indicator of dry bulk freight rates has reached new lows this week, with yesterday’s session ending further dow ...
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- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- White Energy Company Limited
- Minerals Council of Australia
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- The University of Queensland
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Australian Coal Association
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
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