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Saturday, 24 September 11
GOVT PLANS TO RENEGOTIATE ALL CONTRACTS INCLUDING FREEPORT - JP
 The Jakarta Post reported that, the Energy and Mineral Resources Ministry has confirmed plans to renegotiate all mining contracts including those with mining giants like Freeport and Newmont, as mandated by the 2009 law on minerals and coal.
According to the ministry’s director for minerals and coal, Thamrin Sihite, around 65 percent of mining companies operating in Indonesia had agreed to the government’s request to renegotiate their contracts.
“The renegotiation is the mandate of the law. The law is made by the people and the voice of the people is God’s voice. We are proceeding with the renegotiation plan,” he explained in a telephone interview.
PT Newmont Nusa Tenggara (NNT) president director Martiono Hadianto revealed earlier that his company had no problem with the government’s plan, saying that it had been in talks with the government to discuss the matter. NNT is the operator of Batu Hijau gold and copper mine in West Nusa Tenggara.
Regarding PT Freeport Indonesia, the operator of Grasberg mine in Timika, Papua, the ministry claimed it had requested the company to submit all necessary documents for the renegotiation. However, Thamrin declined to say whether the company had agreed to the plan or not.
According to the ministry, there are 42 mining companies holding mining contracts with the government and 76 companies holding coal contracts of works (locally known
as PKP2B).
During the interview, Thamrin also emphasized the government’s position on questions regarding its plan to ban raw-material exports starting in 2014. He said there was no reason for the government to cancel the plan.
“All clauses in the 2009 law on minerals and coal were final and all raw materials have to be processed in the country,” he said firmly.
“This regulation is good for Indonesia. If we can process the raw materials in the country, why should we send them to Japan? Our Industry minister has also discussed incentives and disincentives to support the implementation of the regulations”.
Earlier, Indonesian Industry minister MS Hidayat said that the Japanese Economy, Trade and Industry minister, Yukio Edano, asked whether the implementation of the ban on raw material exports would be implemented fully starting 2014.
“He [the Japanese minister] asked me whether Indonesia could still export raw materials if there was surplus stock after all smelters in Indonesia had operated to full capacity. I didn’t answer, I said I would discuss it with the related ministry first,” he said.
Hidayat continued that he had requested the Japanese minister to boost investments in Indonesia particularly in the downstream sector. The Indonesian government would guarantee raw-material supply for Japanese smelters built in Indonesia, he added.
The Energy and Mineral Resources Ministry said earlier that this year the ministry hoped to attract US$3.5 billion in new investments into the mineral and coal mining sectors, a 10 percent increase from the $3.18 billion reached last year.
The chairman of the Indonesian Mining Experts Association (Perhapi), Irwandi Arif, agreed with Thamrin that the government had to be consistent with the regulations it had issued because developing downstream industries in the mining sector was very important for the country’s future.
“We have to be consistent with our purpose of developing added value. This is the new paradigm in the 2009 law on minerals and coal. This is very important to increase the contribution of mining products to the state and people,” he argued.
Source: The Jakarta Post (By-Rangga D. Fadillah)
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Thursday, 20 October 11
CAPESIZE - TUBARAO /QINGDAO BEING FIXED AT STRONG US$ 29.75 PMT
Handy
The Atlantic market is quite steady, and market seems to be around the same levels as last week. Fewer fixtures reported though. ...
Thursday, 20 October 11
BRACKEN INTERNATIONAL MINING LISTS ON FRANKFURT STOCK EXCHANGE
Press Release - Bracken International Mining (Code:1BM) listed on the Deutsche Börse’s Frankfurt Stock Exchange today at €1.00 with ...
Thursday, 20 October 11
CAPESIZES, SUPRAMAXES LEAD GAINS FOR DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Struggling to find additional support, but still managing to post gains, the dry bulk market has stabilized itself on higher levels again yesterday, ...
Wednesday, 19 October 11
METALLURGICAL COAL PRICES TO DROP BELOW US$240/TONNE - WOOD MACKENZIE
Wood Mackenzie Says Metallurgical Coal Prices to Drop Below US$240/tonne by Q4 2012 But Long-term Demand Fundamentals Remain Robust
Wood Mackenzi ...
Wednesday, 19 October 11
SUPRAMAX MARKET WAS VERY FIRM LAST WEEK - BRS
With all sectors contributing positively, the BDI ended the week at 2,173 points (+8.6%), its highest level so far in 2011. The BCI stood at 3,587 ( ...
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- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- White Energy Company Limited
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Parliament of New Zealand
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Australian Coal Association
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
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