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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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Thursday, 21 July 11
DRY BULK RATES EDGE FURTHER DOWN ON WEAK MARKET SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market fell once again on Wednesday marking the ninth straight day of losses. The industry’s benchmark, the Baltic Dry Index (BDI ...
Wednesday, 20 July 11
ANTWERP RECEIVES THE CAPESIZE MG COURAGE
The deepening of the Western Scheldt has made the port of Antwerp easily accessible not only to Ultra Large Container Ships of over 10,000 TEU but a ...
Wednesday, 20 July 11
KALIMANTAN GOLD APPOINTS COMMISSIONER TO SUBSIDIARY
Kalimantan Gold Corporation Limited has announced the appointment of Dr. Bambang Setiawan as Commissioner (a senior advisor) to the Board of PT Kali ...
Wednesday, 20 July 11
CHALLENGER GETS TABANG PROJECT IUP PERMIT
COALspot.com - Challenger Deep Resources Corporation has been getting exploration permit or Izin Usaha Pertambangan (IUP) for its Tabang coal in Eas ...
Wednesday, 20 July 11
TCM COAL PROJECT IN SOUTH KALIMANTAN MOVES TO FINAL FEASIBILITY STUDY
COALspot.com - Pan Asia Corporation Ltd has executed a formal agreement with an underground mining group KOPEX to undertake a final feasibilit ...
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- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Australian Coal Association
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- VISA Power Limited - India
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- The University of Queensland
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
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