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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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Monday, 22 August 11
MACRO ECONOMICS - PETER SAND BIMCO / HELLENIC SHIPPING
The US is jeopardising the global recovery as job creation remains top challenge across the board.
Global economy: While growth in most emerging ...
Sunday, 21 August 11
SUPRAMAX AVAILABILITY WAS TIGHT DUE TO UPCOMING RAMADAN HOLIDAYS
COALspot.com - The financial markets have been in turmoil with all major stock exchanges down and uncertainty prevails. However the shipping market ...
Sunday, 21 August 11
TUAH TURANGGA ACQUIRES DUTA NURCAHYA
Coal miner PT Tuah Turangga Agung, a wholly owned subsidiary of PT United Tractors Tbk (UNTR) via PT Pamapersada Nusantara), has agreed to acquire 6 ...
Friday, 19 August 11
INDIAS CICTL HAS ACHIEVED ONE MILLION TONS OF DISCHARGE
COALspot.com - Chettinad International Coal Terminal (CICTL) in Ennore port, a state of the art mechanized coal terminal, which was inaugurated on 28t ...
Friday, 19 August 11
AUSTRALIAS' ATH TO ACQUIRE 60% OF APUAH COAL MINE IN INDONESIA
COALspot.com - Australian listed company, Atech Holdings Limited (ATH) has entered into a conditional binding term sheet to acquire 60 percent stake ...
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- GN Power Mariveles Coal Plant, Philippines
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- White Energy Company Limited
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- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
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- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
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- SMC Global Power, Philippines
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- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Planning Commission, India
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- Energy Link Ltd, New Zealand
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- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
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- The Treasury - Australian Government
- VISA Power Limited - India
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- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
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- London Commodity Brokers - England
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- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
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- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
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- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
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- Energy Development Corp, Philippines
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- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
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- San Jose City I Power Corp, Philippines
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- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
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- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
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