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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, 30 April 11
THE PANAMAX WAS THE BIGGEST GAINER
COALspot.com - The freight market appeared to recover slightly after the Easter holidays. However they market may not move up much and likely to mai ...
Friday, 29 April 11
KOMIPO ISSUES TENDER FOR 710,000 MT OF LCV & HCV COAL
COALspot.com - Korea Midland Power Co. Ltd (KOMIPO) has issued a spot supply tender for supply of total 710,000 MT of thermal coal for delivery betw ...
Friday, 29 April 11
HARUM EYES IDR 2.58 TRILLION COAL TAKEOVER
PT Harum Energy Tbk (HRUM), that is controlled by Indonesian tycoon Kiki Barki, is poised to spend Rp 2.58 trillion (approximately US$ 301.296 mln) ...
Friday, 29 April 11
CHINA'S IMPORTS 27 PERCENT LESS COAL IN Q1 2011 - ICAP SHIPPING
ICAP Shipping reported that, China's coal imports in the first quarter were some 27% down on a year ago at 32.3 Mt (2010: 44.4 Mt). Part of the rea ...
Thursday, 28 April 11
BALTIC DRY INDEX NUDGES UP AFTER DAYS OF LOSSES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After consecutive falls, the dry bulk freight market, as followed through the Baltic Dry Index, finally caught a breather yesterday, with the BDI ma ...
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- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- CNBM International Corporation - China
- The University of Queensland
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- PTC India Limited - India
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Australian Coal Association
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Minerals Council of Australia
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Planning Commission, India
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
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