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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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Tuesday, 12 July 11
INDONESIAN MINERS PLAN $70M INVESTMENT TO UPGRADE QUALITY OF COAL - THE JAKARTA GLOBE
One of the leading english language news paper in indonesia, the Jakarta globe reported that, as the government implements a ban on the export of po ...
Tuesday, 12 July 11
DRY BULK MARKET BEGINS WEEK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was evident by the end of the previous week, the dry bulk market’s growth momentum was about to lose steam, something proven yesterday, whe ...
Monday, 11 July 11
REFLECTIONS ON THE FLEET REACHING ONE BILLION TONNES - CLARKSONS / HELLENIC SHIPPING
“A billion gross tonnes of shipping” has a nice ring to it. It presents the industry as a business of substance, with its 85,000 ships w ...
Sunday, 10 July 11
UNTR PROVIDES US$100 MIO TO TTA - INSIDER STORIES
PT United Tractors Tbk (UNTR) agreed to allocate US$100 million to its coal subsidiary dubbed PT Tuah Turangga Agung (TTA).The US$100 million was pa ...
Sunday, 10 July 11
HARDLY ANY CARGO FROM WC INDIA UNTIL END OF MONSOONS - VISTAAR
COALspot.com - The BDI continued to hold last week and firmed up by 27 points with cape and panama index supporting the BDI.
The BDI closed at 1, ...
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- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Trasteel International SA, Italy
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- SMG Consultants - Indonesia
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