We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Wednesday, 27 July 11
BLACKSTONE TO INVEST INR 5,000 MILLION (APPRX. US$ 111 MILLION) IN VISA POWER
Press Release - The Blackstone Group (NYSE: BX) today announced that it will be investing INR 5,000 million (c. USD 111 million) in VISA Power ...
Tuesday, 26 July 11
UT'S SALES COULD REACH TO 8000 UNITS BY THE END OF 2011
COALspot.com - Sales of Komatsu heavy equipment in the domestic market in the first half of 2011 rose 59 percent to 4333 units compared to the same ...
Monday, 25 July 11
INDONESIA STATE ELECTRICITY COMPANY HAS BURNED 19 MMT OF COAL FOR FIRST HALF OF 2011
COALspot.com - Indonesia's State Electricity Company and other IPPs have burned 19 million tons of coal for first half of this year said,Pamudji Nu ...
Monday, 25 July 11
AKR CORPORINDO TO PRODUCE 0.3 MMT OF COAL BY DECEMBER
COALspot.com - PT AKR Corporindo (AKRA) began producing coal from its mine in Muara Teweh, Central Kalimantan. The company is targeting to pro ...
Sunday, 24 July 11
AN INDIAN PORT SETS A WORLD RECORD FOR CONVENTIONAL COAL DISCHARGE
COALspot.com - Krishnapatnam Port has set a World record for discharging 106,171 tons of steam coal in just 24 hrs using the conventional unloading sy ...
|
|
|
Showing 5171 to 5175 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Aditya Birla Group - India
|
| |
| |
|
