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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, 05 May 11
AKR NAMES KARUNIA AS COAL CONTRACTOR
Insider Stories reported that, PT AKR Corporindo Tbk has appointed PT Karunia Bumi Khatulistiwa as the contractor of coal mining concession in North ...
Tuesday, 03 May 11
DRY BULK MARKET OUTLOOK SEEN WEAK, AS SHIP OWNERS PILE UP MORE SHIPS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the Baltic Dry Index not trading yesterday, it’s worth taking a step back to see the current freight levels. First of all, capesizes and ...
Tuesday, 03 May 11
THE HANDY MARKET CONTINUED TO SLIDE DOWN - BRS
There were marginal increases in rates for the larger sizes this week, with the Cape index remaining stable and the Panamax index logging a 5% incre ...
Monday, 02 May 11
ADARO POSTS 11.7 PERCENT INCREASE IN REVENUES ON HIGHER PRICES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s second-largest coal producer, PT Adaro Energy Tbk, announced an 11.7 percent increase in net reven ...
Saturday, 30 April 11
BUKIT ASAM PROFIT HAS JUMPS 108 PERCENT IN Q1, 2011
The Indonesian state-controlled coal miner PT Bukit Asam Tbk (PTBA) reported a 108.07 percent jump in net profit during the first three months of 20 ...
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- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Planning Commission, India
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- The Treasury - Australian Government
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
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