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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, 10 April 11
SOFT FREIGHT MARKET TREND LIKELY TO BE CONTINUED - VISTAAR SHIPPING
COALspot.com - The freight market continued to soften further with the BDI breaking the 1,500 points and closing at 1376 points down by almost 10 pc ...
Thursday, 07 April 11
HANDY RATES SLIDING NOW - FEARNBULK
Handy
Slowly softening rates as more tonnage is accumulating in the Atlantic basin.The trans-Atlantic round is around $15k pd with trips to ...
Thursday, 07 April 11
DRY BULK MARKET PLUNGING EVEN FURTHER ON LOW CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has continued its falling pattern this week, with every day proving to be painful for ship owners, especially those of the large ...
Thursday, 07 April 11
INDIKA BUYS MITRABAHTERA AT US$ 0.183
PT Indika Energy Tbk (INDY), integrated energy company, today has exercised an option agreement to acquire 51% shareholding in newly listed coal tug ...
Wednesday, 06 April 11
FORBES & MANHATTAN COAL ANNOUNCES SIGNIFICANT OFF TAKE AGREEMENT
Steady Cash Flow Will Fund Production Ramp Up
Forbes & Manhattan Coal Corp., ("Forbes Coal" or the "Company") is a produc ...
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Showing 5311 to 5315 news of total 6871 |
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- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Australian Coal Association
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
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