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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, 05 July 11
UNTR REVISES UP SALES TO 7,500 UNITS - INSIDER STORIES
PT United Tractors Tbk (UNTR), distributor of Komatsu heavy equipment and parent of PT Pamapersada Nusantara, has revised up its equipment sales tar ...
Sunday, 03 July 11
INDONESIAN GOVERNMENT HAS CLEARED 1509 COAL IUP'S AS CLEAR AND CLEAN
COALspot.com - The Directorate general of mineral & coal of Indonesia has cleared around 1,509 IUP holders (coal mining companies) as "clea ...
Sunday, 03 July 11
MONSOON IN INDIA PUSHED FREIGHTS UP FROM INDONESIA TO WC INDIA - VISTAAR
COALspot.com - The BDI continued to hold closing just 2 points below last week at 1,422 points which was supported by Cape index which was up by 71 ...
Friday, 01 July 11
BEN LINE OPENS A NEW OFFICE IN BERAU
COALspot.com - Ben Line Agencies has announced that it has opened a new office in the busy coal loading port of Berau in East Kalimantan increasing ...
Friday, 01 July 11
CAPESIZE RATES TO REMAIN DEPRESSED IN COMING MONTHS SAYS SHIPPING ORGANIZATION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In a recent report, BIMCO reassessed that Capesize freight rates will remain in depressed territory in the coming months. Capesize Time Charter Aver ...
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- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Planning Commission, India
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
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