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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, 19 May 11
OVERSUPPLY, VERY LARGE ORE CARRIERS EAT UP ON DRY BULK FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a brief upward momentum which ended early last week, the Baltic Dry Index, the dry bulk market’s benchmark has returned to its usual pat ...
Wednesday, 18 May 11
THE US COAL INDUSTRY LOGGED EXPORTS OF AROUND 25M TONNES IN 1Q OF 2011 - BRS
Another slow decline in the bulk markets this week, with the BCI losing the most at nearly 5%, the BPI 2.8% and the smaller sizes sub-1% amounts. Th ...
Wednesday, 18 May 11
AKR AIMS TO SELL COAL WORTH RP216 BILLION - PAPER
Bisnis Indonesia, an Indonesia's one of the leading business paper reported that, PT AKR Corporindo Tbk has targeted coal sales valued at Rp216 bil ...
Wednesday, 18 May 11
OVERHAUL OF MINING LAW MAY DETER INVESTMENT, S&P SAYS - THE JAKARTA GLOBE
The Jakarta Globe, an Indonesian English language news paper reported that, A report by Standard & Poor’s Ratings Services that a regulatory ...
Tuesday, 17 May 11
DRY BULK MARKET ENTERS WEEK ON WEAK MODE - HELLENIC SHIPPING
In yet another sign of softening freight rates for dry bulk carriers and oversupply issues, the dry bulk market entered this week on a downward path ...
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- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- White Energy Company Limited
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
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