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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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Monday, 20 June 11
5TH ASIA PACIFIC COAL TRADING & INVESTMENT OUTLOOK 2011 IS ON THE WAY
Press Release - Since the beginning of 2011, international commodity price has been in a high level, resulting in “TENSION” of energy co ...
Sunday, 19 June 11
S6 AND S7 ROUTES LIKELY TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - The freight market seemed to be stabilizing and the BDI and Cape index was up marginally and closed at 1,423 points and 1,824 points ...
Sunday, 19 June 11
BUMI 1Q NET PROFIT INCREASES 16.5 PERCENT
PT Bumi Resources Tbk (BUMI), Indonesia's largest coal exporter that is 25% owned by London-listed Vallar Plc, reported a16.49% increase in net pro ...
Friday, 17 June 11
DRY BULK BREATHES SIGH OF RELEAF ON RENEWED CAPESIZE DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has caught a sign of relief from the middle of the week onwards, as the BDI (Baltic Dry Index) increased once again yesterday, t ...
Thursday, 16 June 11
BOOSTING THE USE OF LOW CARBON ENERGY FOR A BETTER WORLD
Bali, Indonesia host of world renewable energy congress – Indonesia, international conference & exhibition on renewable energy and energy ...
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- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- The University of Queensland
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- White Energy Company Limited
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Minerals Council of Australia
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
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