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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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Saturday, 28 May 11
GOLDEN MINES IPO AT RP 2,300 - RP 3,500
Coal miner PT Golden Energy Mines, a wholly owned subsidiary of PT Dian Swastatika Sentosa Tbk (DSSA) which is controlled by Indonesian businessman ...
Friday, 27 May 11
LARGER DRY BULK CARRIERS LEAD BDIS RALLY THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Larger dry bulk vessels have kept on leading the market’s rise this week, with the BDI (Baltic Dry Index) rising by a more than healthy 3.43% ...
Wednesday, 25 May 11
70 PERCENT OF HARUMS PRODUCTION SOLD - BISNIS INDONESIA
Coal producer PT Harum Energy Tbk claimed that out of this year's total production target of 10 million tons, 70% or 7 million tons had been sold, ...
Wednesday, 25 May 11
MINERS BACK GOVT PLAN TO FREEZE MINING PERMITS - THE JAKARTA POST
Indonesian coal miners hailed the government’s decision to impose a moratorium on the issuance of new mining permits, saying the freeze would ...
Wednesday, 25 May 11
DRY BULK MARKET ENTERS WEEK ON A HIGH NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has managed to end its downward trend of the past few weeks and surge back on higher ground. Yesterday, the Baltic Dry Index (BD ...
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- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- PTC India Limited - India
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
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