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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, 23 May 11
BRMS IS TO START PRODUCTION FROM DAIRI PRIMA MINERALS
COALspot.com - The Presidential Decree No. 28 Year 2011 that allows conditional underground mining in the protected forest areas was issued on 19th ...
Sunday, 22 May 11
INDONESIA - INDIA IS LIKELY TO BE STEADY NEXT WEEK - VISTAAR SINGAPORE
COALspot.com - The freight market remained soft beginning of the week, however second half of the week was firm with BDI up by 3.29 pct and closed a ...
Saturday, 21 May 11
OWNERS PREFER TO DO INDO COAL OR NICKEL ORE TO CHINA RATHER THAN GOING TO INDIA - FEARNBULK
Handy
The Atlantic is marked by volatility and very positional, nevertheless USG,NCSA, Cont remain strong thanks to the petcoke, grains and scrap ...
Friday, 20 May 11
GOVT TOLD TO LIMIT COAL, GAS EXPORTS - THE JAKARTA POST
The Jakarta Post, a leading news paper in Indonesia, reported that, Amid soaring global oil prices, the government should limit exports of coal and ...
Thursday, 19 May 11
INDONESIAN COAL EXPORTS DROP 7.98 PERCENT IN APRIL
COALspot.com - Indonesian coal exports dropped to 2.168 million tons in April, and up 7.13 percent on the year and 7.98 percent below March, a ...
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- London Commodity Brokers - England
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- The Treasury - Australian Government
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