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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, 16 May 11
INDO TAMBANG 1Q SALES REVENUE UP - INSIDER STORIES
Thai Banpu Plc last week reported a 7.83% increase in coal sales revenue from its Indonesian operating unit via PT Indo Tambangraya Megah Tbk (ITMG) ...
Sunday, 15 May 11
THE FREIGHT MARKET REMAINED SOFT - VISTAAR
COALspot.com - "The freight market overall remained soft", said Capt. Reddy, Director of Vistaar Shipping Singapore. He further added, &qu ...
Saturday, 14 May 11
WELSPUN TO ACQUIRE AN INDONESIAN COAL MINE - MEDIA
The India based Welspun Power and Steel Ltd is planning to acquire 456,000 shares in PT Batubara Energy Indonesia, representing 75% interest, accord ...
Saturday, 14 May 11
DRY BULK MARKET ON A DOWNFALL ONCE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what is now pretty clear will be yet another challenging year for dry bulk ship owners, the Baltic Dry Index returned to its usual pattern of dec ...
Tuesday, 10 May 11
DRY BULK MARKET KEEPS ON RISING, OUTLOOK MIXED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched forward once again on Monday, with the Baltic Dry Index rising by 0.6% to 1,348, although the Capesize market was 0.57% l ...
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- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Planning Commission, India
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
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