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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, 16 June 11
FREIGHT MARKET FAILS TO RECOVER - DREWRY / HELLENIC SHIPPING
With demand failing to improve enough to contain the colossal increases in supply, the dry bulk freight market stayed near the dreadfully low levels ...
Thursday, 16 June 11
VALLAR CONTROLS 84.7 PERCENT STAKE IN BERAU COAL - INSIDER STORIES
Insider Stories reported that, London-based investment company Vallar Plc, via its subsidiary dubbed Vallar Investments UK Limited, today announced ...
Wednesday, 15 June 11
INDONESIA NEW COAL POLICY WORRIES INDIA POWER FIRMS - MYDIGITALFC
Tata Power, Adani group, Lanco Infratech and Reliance Power, among other Indian coal importers, are waiting to assess the impact of the Indonesian g ...
Wednesday, 15 June 11
BAYAN RESOURCES OWNS 56 PERCENT KANGAROO - INSIDER STORIES
Australia-listed coal miner Kangaroo Resources Limited (KRL) has obtained final approval from its shareholders to complete its US$277 million acquis ...
Wednesday, 15 June 11
DRY BULK MARKET WEAKENS AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite this time of year traditionally being one of the busiest for the dry bulk market, it seems that in the post-crisis era trade patterns are co ...
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- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Australian Coal Association
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Parliament of New Zealand
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
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