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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, 13 June 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 1.2 PERCENT IN JUNE
COALspot.com - The Ministry of Energy & Mineral Resources sets coal spot price benchmark for June 2011 at US$ 119.03 per ton, higher than US$ 1. ...
Sunday, 12 June 11
THE FREIGHT MARKET IS LIKELY TO BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com - The freight market continued to soften this week except for Panamax index. The BDI was down by about 4.77 pct and closed at 1,418 poi ...
Friday, 10 June 11
DRY BULK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
This week has offered dry bulk ship owners no real reason to smile, as the industry’s benchmarket, the Baltic Dry Index (BDI) has been steadil ...
Friday, 10 June 11
BUKIT ASAM RECORDED RP1.3 TRILLION PROFIT IN MAY - TEMPO INTERACTIVE
Tempo Interactive reported that, PT PT Tambang Batubara Bukit Asam Tbk (PTBA) made a net profit of Rp 1.3 trillion (approx. US$ 152,779,410) at the ...
Friday, 10 June 11
DRY BULK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
This week has offered dry bulk ship owners no real reason to smile, as the industry’s benchmarket, the Baltic Dry Index (BDI) has been steadil ...
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- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- The University of Queensland
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Planning Commission, India
- Australian Coal Association
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Central Electricity Authority - India
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
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