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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, 20 April 11
TNPL SECURED 160K MT OF COAL WITH CALORIFIC VALUE 6000 GAD AT US$ 93.44 PMT
COALspot.com - Delhi based Knowledge Infrastructure Systems Pvt. Ltd once again offered the lowest price of US$ 93.44 per metric ton for calorific v ...
Wednesday, 20 April 11
TSI LAUNCHES GEO-COAL UPGRADING TECHNOLOGY
Simple yet effective process boosts calorific value of low rank coal to provide lower cost energy across the world.
Press Release - Total Sinergy ...
Wednesday, 20 April 11
ADARO TO PAY OUT RP 970B IN DIVIDENDS - THE JAKARTA POST
The Jakarta Post reported that, the annual shareholders meeting of coal producer PT Adaro Energy on Wednesday agreed on the disbursement of Rp 970.7 ...
Wednesday, 20 April 11
INDIA IMPORTS MORE COAL FROM INDONESIA
COALspot.com - Indonesian coal exports jumped 23.31 percent during March 2011. The world’s largest coal exporter shipped 27, ...
Tuesday, 19 April 11
LONDON COMMODITY BROKERS OPENS JOHANNESBURG OFFICE
COALspot.com - London Commodity Brokers (LCB), a broking house specialising in bulk physical and Over-The-Counter commodities and options (coal ...
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- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
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- India Bulls Power Limited - India
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- Wilmar Investment Holdings
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- Billiton Holdings Pty Ltd - Australia
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- Interocean Group of Companies - India
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- PTC India Limited - India
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
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- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
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- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
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