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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, 07 May 11
SUPRAMAXES ARE AT AROUND $ 13,500-14,000 PER DAY FOR SINGLE TRIPS
COALspot.com - The freight remained fairly steady this week with the BDI up by 71 points and closing at 1,340 points, said Capt. Reddy, the director ...
Saturday, 07 May 11
COAL PRODUCTION MAY REACH 95M TONS IN SECOND QUARTER - THE JAKARTA POST
The Jakarta Post reported that, Indonesian miners are projected to produce around 95 million tons of coal in the second quarter of this year after l ...
Friday, 06 May 11
BUKIT ASAM TO CLOSE COAL TAKEOVER IN Q2 - INSIDER STORIES
The state-controlled PT Tambang Bukit Asam Tbk (PTBA) expects to complete acquisition of two coal mining companies from four companies which is now ...
Thursday, 05 May 11
SUPRAS IN NORTH CHINA ARE GETTING CLOSE TO $ 13K FOR INDO-INDIA
Handy
The Atlantic market is stable/flat with positive undertone meaning more enquiries hitting the market today. Lack of prompt vessels. Trips to ...
Thursday, 05 May 11
PANAMAXES LEAD DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s benchmark, the Baltic Dry Index (BDI) managed to edge higher yesterday, rising by 1.81% to 1,292 points, in the first po ...
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- Chamber of Mines of South Africa
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- The University of Queensland
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
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