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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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Sunday, 10 July 11
PTBA INCREASES SHARES IN COAL TRAIN PROJECT - TEMPO INTERACTIVE
TEMPO Interactive reported that, PT Tambang Batubara Bukit Asam (PTBA) is still studying the plan to buy 20 percent of shares in the PT Bukit Asam T ...
Sunday, 10 July 11
DRY BULK MARKET SHOWING SIGNS OF IMPROVEMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Stronger Capesize demand has helped propel the dry bulk market forward this week, with the Baltic Dry Index (BDI) ending yesterday’s session u ...
Sunday, 10 July 11
INDONESIAN BAYAN RESOURCES TO SUPPLY 100 MILLION TONS OF COAL TO INDIAN UNIVERSAL SUCCESS ENTERPRISES LIMITED
Coal miner PT Bayan Resources Tbk (BYAN), that is owned by Dato' Low Tuck Kwong, has entered into a conditional sales and purchase agreement to sup ...
Thursday, 07 July 11
BELOW 5100 COAL WILL BE BANNED FOR EXPORT BY 12 JANUARY 2014
COALspot.com - Indonesian government is in the process of drafting an amendment for government regulation 23/ 2010.
GR 23/2010 has issued to sup ...
Wednesday, 06 July 11
ATLAS RESOURCES TO OFFLOAD 17 PERCENT IPO - INSIDER STORIES
Coking and thermal coal miner PT Atlas Energi Resources aims to offload 17percent new shares of its enlarged capital after Eid-Fitri holidays, as qu ...
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- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- GMR Energy Limited - India
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
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