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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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Wednesday, 27 April 11
KEWESPO CALLS FOR 765KT OF THERMAL COAL
COALspot.com - South Korea's East-West Power Co's (KEWESPO) has issued a tender to buy total 765,000 tonnes of thermal coal for delivery between J ...
Wednesday, 27 April 11
HARUM ENERGY TO PAY RP 659.1B IN DIVIDENDS - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miner Harum Energy is planning to pay out Rp 659.1 billion (US$76.46 million) in dividends this year ...
Wednesday, 27 April 11
TSIS $5 MILLION PLANT TO START PRODUCING UPGRADED COAL - THE JAKARTA POST
The Jakartapost reported that, PT Total Sinergy International (TSI), in association with Agritrade Resources Limited of Hong Kong, will upgrade its ...
Wednesday, 27 April 11
RAIN CONSIDERS COAL MINES TAKEOVER - INSIDER STORIES
Indonesian's tenth largest coal miner in term of coal concession, PT Resource Alam Indonesia Tbk (KKGI), is considering to acquire several coalmine ...
Wednesday, 27 April 11
DRY BULK MARKET LACKS ACTIVITY, RATES KEEP RETREATING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the Easter Holidays for a large of the world now behind, the dry bulk market kept lacking activity on Tuesday, which led the Baltic Dry Index ( ...
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- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
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