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.
|
|
Friday, 15 July 11
BUKIT ASAM 1H COAL SALES UP 44 PERCENT
The state-controlled PT Tambang Batubara Bukit Asam Tbk (PTBA) is estimated to post 6.5 million tons of coal sales in the first half of this year, a ...
Thursday, 14 July 11
INDO GOVT. SETS JULY COAL REFERENCE PRICE AT US$ 118.24 PER TON
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia sets coal spot price benchmark for July 2011 at US$ 118.24 per ton, US$ 0 ...
Thursday, 14 July 11
DRY BULK MARKET KEEPS FALLING ON WEAK CAPESIZE SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on retreating on Wednesday, with the Baltic Dry Index (BDI) falling to 1,383 points, from 1,411 of the previous day. Capesi ...
Thursday, 14 July 11
UNITED TRACTORS BUYS DUTA SEJAHTERA - INSIDER STORIES
Insider Stories reported that, PT United Tractors Tbk (UNTR), via a wholly-owned subsidiary PT Tuah Turangga Agung, will acquire PT Duta Sejahtera a ...
Wednesday, 13 July 11
ANOTHER FIRMER WEEK FOR THE CAPES - BRS
Barry Rogliano Salles reported that, there were mixed results for the dry bulk market this week: the Capesize and Panamax markets performed well gai ...
|
|
|
Showing 5191 to 5195 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Planning Commission, India
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
|
| |
| |
|
