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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, 30 June 11
DRY BULK MARKET SHOWS SIGNS OF FURTHER WEAKENING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems to be unable to shake off the additional supply of vessels, an oversupply issue of grave concern that would have occured e ...
Wednesday, 29 June 11
ANOTHER STRONG PERFORMANCE BY CAPESIZE - BRS
Another strong performance by the Capesize market this week, bringing the BCI up 8% to 1,974 points. However the Panamax market was penalised, losin ...
Monday, 27 June 11
THE IRON ORE IMPORTS BY CHINA SEEMED TO SLOW DOWN - VISTAAR
COALspot.com - The BDI was holding as previous week and was just up by 1 point and closed at 1424 points end of last week. The biggest gain was ...
Friday, 24 June 11
BERAU EYEING 70 PERCENT GROWTH IN EBITDA
Indonesia's coal producer PT Berau Coal Energy Tbk (BRAU) is eyeing a 60 -70 percent growth in EBITDA to US$ 560 million-US$595 million this year. ...
Thursday, 23 June 11
DRY BULK MARKET KEEPS EXHIBITING SIGNS OF WEAKNESS THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems to be unable to climb at new highs this week, showing signs of weakness, across most ship types. Yesterday, the Baltic Dry ...
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- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- CNBM International Corporation - China
- The University of Queensland
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
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