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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, 02 June 11
LARGE SUPRAS FOR RBCT/INDIA ROUND ARE NOW ASKING 14K - FEARNBULK
Handy
The Handy/Supra market has in general been flat and un-exciting this week. The Black Sea market is almost non existing while the US Gulf mar ...
Thursday, 02 June 11
DRY BULK SHIP OWNERS LOOKING INTO SHORTENED WEEK WITH ANXIETY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With most markets in the western world closed yesterday, as a result of Memorial Day, dry bulk stakeholders weren’t able to build over the pos ...
Monday, 30 May 11
MIANG BESAR COAL TERMINAL ON TARGET
COALspot.com - MBCT, to be largest coal terminal in Asia to start construction in Indonesia’s east Kalimantan Island in July 2011 says Mr. Joh ...
Sunday, 29 May 11
THE FREIGHT MARKET CONTINUED TO GAIN MOMENTUM - VISTAAR
COALspot.com - The freight market continued to gain momentum and the BDI, Cape Index and Panamax was by up almost 10-12 pct and on all sectors, Vist ...
Saturday, 28 May 11
WCI-CHINA RATES SLIDED TO 15K AND FROM ECI AROUND 12K - FEARNLEYS AS
Handy
Rates in the Atlantic remain steady/flat with the Black Sea remaining quiet with little fresh enquiries. The Continent is seeing more tonnag ...
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- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Planning Commission, India
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
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