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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, 09 June 11
INDIKA AIMS TO PRODUCE 31 MILLION TONS OF COAL IN 2011 - THE JAKARTA POST
The Jakarta Post, a leading English news paper in Indonesia reported that, PT Indika Energy Tbk, an integrated energy company, is targeting to incre ...
Wednesday, 08 June 11
BAYAN TO DISTRIBUTE RP. 80 ( APPROX. US$ 0.00939850) PER SHARE DIVIDEND
Coal miner PT Bayan Resources Tbk (BYAN), that is controlled by business Dato' Low Tuck Kwong, will distribute Rp80 a share dividend or Rp266.7 bil ...
Wednesday, 08 June 11
CBM PRODUCTION FROM AUSTRALIA, CHINA, INDIA, AND INDONESIA IS EXPECTED TO WITNESS A SIGNIFICANT INCREASE BY 2015
Press Release - According to Global Data (December 2010), CBM production in Australia, China, India, and Indonesia is expected to witness a signific ...
Sunday, 05 June 11
COAL IMPORTS BY CHINA IS LIKELY TO INCREASE - VISTAAR SINGAPORE
COALspot.com - The freight market softened this week except for the BDI and Cape index was up, but even in these sectors the momentum was compared t ...
Friday, 03 June 11
DRY BULK MARKETS RESURGENCE APPEARS TO BE LOSING SOME STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s seems to be losing some steam, despite reports of growing Chinese demand for commodities, especially coal, on the back o ...
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- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- White Energy Company Limited
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Energy Development Corp, Philippines
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
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