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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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Tuesday, 26 April 11
NTPC CALLS TENDER FOR 4 MLN TON OF NON-COKING COAL
COALspot.com - NTPC Limited, incorporated in 1975 as a public sector company wholly owned by Government of India, is the largest thermal power gener ...
Monday, 25 April 11
THE FUTURES FOR THREE YEARS WAS AT AROUND PANAMAX/US$ 14,000 PER DAY & SUPRAMAX/US$ 14,000 PER DAY - VISTAAR
COALspot.com - The freight market continued to soften further with all segments down except for the handy size which was marginally up by 10 points. ...
Saturday, 23 April 11
GUPTA COAL TO BAG ONE MILLION TONS OF COAL SUPPLY ORDER FROM KPCL AT AROUND US$ 127.53 PMT
COALspot.com - Karnataka Power Corporation (KPCL), a state utility of Karnataka, India has secured its one million tons of thermal coal with c ...
Saturday, 23 April 11
STRAITS ASIA SETS 11.5 MIO TONS OUTPUT - INSIDER STORIES
Insider Stories reported that, Singapore-listed Straits Asia Resources Limited plans to jack up its coal output target of 8.5% to 11.5 million tons ...
Friday, 22 April 11
DRY BULK MARKET KEEPS FALLING, NOW AT TWO-MONTH LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems unable at the moment to recover from the weight of newbuilding deliveries, resulting in too many ships competing for fewer ...
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- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Australian Coal Association
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
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