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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, 19 April 11
TNPL TO CONDUCT E-AUCTION TO SECURE 160,000 MT OF COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL) a state utility of Tamil Nadu, India to conduct reverse auction on 20 April 2011, betw ...
Tuesday, 19 April 11
ADARO TO ALLOT US$100 MIO FOR COKING COAL - INSIDER STORIES
One of Indonesia's largest coal miner PT Adaro Energy Tbk (ADRO) plans to spend US$100 million in coking coal project dubbed IndoMet Coal, a joint ...
Tuesday, 19 April 11
KPCL TO OPEN PRICE BID ON 23 APRIL 2011 TO FINALIZE ITS ONE MILLION MT COAL SUPPLIER
COALspot.com - Karnataka Power Corporation (KPCL) a state utility of Karnataka, India called for open tender for supply of one million tons of 6300 ...
Monday, 18 April 11
INDONESIA HAS SET THE APRIL 2011 COAL REFERENCE PRICE FOR THERMAL COAL AT US$ 122.02 PER TON
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the April 2011 Indonesian Coal Reference Price for thermal coal at ...
Sunday, 17 April 11
THE FREIGHT MARKET APPEARS WILL CONTINUE TO BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com - "The freight market continued to soften further with all segments down except for the handy size which was marginally up by 10 p ...
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- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- PTC India Limited - India
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Economic Council, Georgia
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- White Energy Company Limited
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Aditya Birla Group - India
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
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