We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Tuesday, 27 December 11
MINERS MAKE CASE FOR RESUMING CONTRACT NEGOTIATIONS - THE JAKARTA POST
The Jakarta Post reported that, problems with the renegotiation of mining contracts in the country are far from over, as agreements on several crucial issues are still yet to be found.
The government remains adamant that it will not compromise on its intention to ramp up state revenues by increasing royalties, while miners on the other hand insist that some points in the 2009 minerals and coal law are “irrational” and may create uncertainty in terms of the outcome of their investments.
The Indonesian Mining Association (IMA) revealed that renegotiations had stalled due to three major issues: the size of mining areas, state revenues and contract extensions.
In a bid to make progress on the stagnant talks between the government and miners, the association proposed solutions to the three issues based on what it saw as fair for both parties. With the proposals, it expected that deals would be made, which would foster an air of certainty in relation to operations.
On the issue of state revenues, the association claimed that it was hard for mining companies to adjust the amount of royalties to the level set by the government in the 2003 regulation on tariffs for non-tax revenues for the energy and mineral resources sector (3.75 percent of sales for gold, 3.25 percent for silver and 4 percent for copper).
“If the government wants to raise royalties, it also has to think about other financial obligations paid by companies, such as the corporate income tax, the amount of which is still 35 percent even though the 2008 law on income tax revised it to 25 percent,” said Syahrir AB, an executive director of the IMA, in Jakarta on Monday.
The government could not force mining companies to pay higher royalties without adjusting its other financial obligations because such economic burdens would reduce the profitability of their projects, he explained.
If the goal was to raise state revenues from the mining sector, he suggested that the government apply a threshold for mining companies’ profits. For example, if a company made a profit margin of more than 25 percent due to the soaring prices of commodities, the government could apply an additional tax, he added.
The second suggestion was related to the size of mining areas. The association said most mining companies needed at least 70,000 hectares to make a mining project “economical”. However, the 2009 law on minerals and coal determined that the maximum size for mineral mining was 25,000 hectares, with coal mining at 15,000 hectares.
“In our last meeting with the government, it understood our reasons. The government agreed that the size of an area granted to a company would be judged based on the long-term plan it proposed to the government,” Syahrir reported.
That model requires the Energy and Mineral Resources Ministry to have the human resources to review the plan and judge whether the size of area proposed by a company is reasonable or not. If the reviewers say that the proposal is unreasonable, the government can grant the permit for a smaller area.
The third suggestion was about the contract extension. Currently, mining companies can extend the contract by “two times 10 years”, but the authority to grant approval for the extension is in the hands of the head of regions by issuing mining permits. The association deems that the model creates uncertainty over the future of mining projects. It suggests that the contract extension clause is included into mining contracts (KK) and contracts of work (PKP2B).
The director general for minerals and coal at the Energy and Mineral Resources Ministry, Thamrin Sihite, said that out of 42 mining contract holders and 76 contracts of work, there were companies that agreed to all renegotiation points, and some that partially agreed and disagreed.
“About the suggestion in relation to the size of area, the government will review it first, if the proposal is in line with the government vision, we may approve it,” he said over the phone.
However, he reminded that renegotiations had to be looked at on case by case basis as each company had different problems.
IMA proposals:
•The implementation of a profit threshold to allow the government to tax mining companies if the latter’s profit margins exceed the threshold.
•Determine the mining area based on the profitability of each mining project. The IMA estimates that a company needs at least 70,000 hectares to make a project profitable.
•Contract extensions have to be included into mining contracts (KK) and contracts of work (PKP2B) to create certainty.
Source: The Jakarta Post
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Saturday, 17 December 11
THE FREIGHT MARKET SEEMS TO HAVE ALMOST BOTTOMED OUT AND MAY REMAIN STEADY AT THESE LEVELS CAPT REDDY
COALspot.com - The BDI and Cape index closed lower this week with BDI closing at 1,888 points (down by 1.76 pct) and Cape index at 3,572 points (dow ...
Friday, 16 December 11
DRY BULK MARKET LOSES TRACK ON CAPESIZE LOSSES, SHIP FINANCING REMAINS TROUBLESOME - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market didn’t manage to sustain earlier gains, losing track yesterday, on reduced Capesize demand and persisting troubles in smal ...
Thursday, 15 December 11
BERAU SEES INDIA AS POTENTIAL MARKET FOR LOW-CALORIE COAL - THE JAKARTA POST
The Jakarta Post reported that, Publicly listed coal mining company PT Berau Coal Energy (BRAU), the fifth largest coal producer in Indonesia, sees ...
Thursday, 15 December 11
PANAMAX HARDLY AFFECTED BY THE RECENT FIRMER TENDENCY FOR THE BIG SISTERS - FEARNBULK
Handy
The rates are more or less the same as last week. Continent/US Gulf fixing at tick below USD 10k and Gulf/Continent levels at USD 25k. Trips ...
Thursday, 15 December 11
DRY BULK RATES TO REMAIN AT CURRENT LEVELS FOR THE MOST PART IN THE COMING MONTHS SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest research note, BIMCO said that the Capesize Time Charter Average will remain at USD 20,000-30,000 per day but the tonnage oversupply w ...
|
|
|
Showing 4926 to 4930 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Australian Coal Association
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Planning Commission, India
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
|
| |
| |
|
