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.
|
|
Saturday, 23 July 11
FAR EAST /SE ASIA ROUTE GAINED US$ 3000 HIGHER THAN LAST WEEK - VISTAAR
COALspot.com - The BDI further softened to by 2.22 pct and closed at 1323 points. The Cape and Panamax index also softened and closed at 1841 points ...
Saturday, 23 July 11
PANAMAX MARKET FACED A LIMITED ACTIVITY IN ALL BASINS
Handy
Atlantic softening across all segments with little fresh enquiry ex Bsea/Cont/USG and ECSA. Trips to Far east remain healthy. More cargoes ex ...
Friday, 22 July 11
MARUBENI ACQUIRING 42.86% SHARE OF YTL JAWA POWER HOLDINGS
COALspot.com - Japan’s Marubeni Corporation acquisition 42.86% stake in YTL Jawa Power Holdings BV, which owns a 35% equity interest in Indone ...
Thursday, 21 July 11
INDIA IMPORTS 36.033 MILLION TONS OF INDONESIAN COAL TILL JUNE
COALspot.com - Indonesia shipped 28.27 Million tons of coal in June 2011, a 2.3 percent lesser than May export of about 28.962 million tons, I ...
Thursday, 21 July 11
COAL PRICES ARE AT US$ 120 A TONNE
COALspot.com - Indonesian coal production in 2011 is expected to reach 360 million tons or 5.8 percent higher than government's forecasts. The incr ...
|
|
|
Showing 5176 to 5180 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Marubeni Corporation - India
- PTC India Limited - India
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
|
| |
| |
|
