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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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Sunday, 17 April 11
ADARO TO PROPOSE US$75 MILLION DIVIDEND
COALspot.com - One of Indonesia's largest coal miner PT Adaro Energy Tbk (ADRO) is keen to propose a final dividend of US$75 million or Rp 20.17 (U ...
Saturday, 16 April 11
TNPL RECEIVES 1.6MT OF COAL OFFERS - SOURCES
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. has closed its 160,000 MT coal inquiry today.
More than a half a dozen of Indian coal t ...
Friday, 15 April 11
DRY BULK MARKET KEEPS ON FALLING, ON LOW DEMAND AND HIGH SUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its falling patern this week, with the industry’s benchmark, the Baltic Dry Index (BDI) retreating again yesterda ...
Thursday, 14 April 11
SUPRAS IN N.CHINA GET CLOSE TO $12000 FOR TRIPS VIA INDONESIA TO INDIA - FEARNBULK
Handy
The Atlantic market remains flat - very little new/fresh business and slow activity. Considerable prompt tonnage remains unfixed. The USG pa ...
Wednesday, 13 April 11
CAPESIZE VESSELS ARE DELIVERED AT A PACE OF ONE NEW VESSEL EVERY SECOND DAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In a clear sign that it will take a significant rise in global seaborne dry bulk trade in order to be able to absorb the flurry of new building tonn ...
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- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Planning Commission, India
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- The University of Queensland
- CIMB Investment Bank - Malaysia
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