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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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Friday, 09 September 11
SUPRA BARA SECURES $20 MILLION LOAN - JP
The Jakarta Post reported that, Coal miner PT Supra Bara Energi says it has secured a US$20 million loan facility from BNP Paribas to buy heavy equi ...
Friday, 09 September 11
CAPESIZE CAN SECURE USD 17-18K SHORT PERIOD - FEARNBULK
Handy
The US Gulf has remained relatively steady, slightly more activity in the South Atlantic with owners aiming for low to mid USD 20k´s f ...
Thursday, 08 September 11
UKRAINES COAL PRODUCTION TO RISE 8% - IFANDP
Industrial fuels & power reported that, Ukraine will increase its coal output by about 8% this year compared to last year, said the country&rsqu ...
Thursday, 08 September 11
DRY BULK MARKETS RALLY COMES TO AN END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was widely expected by analysts and shipbrokers alike, the latest rally of the dry bulk market came to a halt yesterday, with the Baltic Dry Inde ...
Thursday, 08 September 11
TRADA MARITIME BUYS GUNUNG BARA UTAMA
Insider Stories reported that, PT Trada Maritime Tbk (TRAM) has purchased convertible bonds issued by PT Awesome Coal from Zakia Limited. The memora ...
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- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Australian Coal Association
- Power Finance Corporation Ltd., India
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- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
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- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
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- Intertek Mineral Services - Indonesia
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- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
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- Coal and Oil Company - UAE
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- Chamber of Mines of South Africa
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- OPG Power Generation Pvt Ltd - India
- The University of Queensland
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- South Luzon Thermal Energy Corporation
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- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
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- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
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- Wood Mackenzie - Singapore
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- Global Business Power Corporation, Philippines
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- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- White Energy Company Limited
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
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- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
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