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Wednesday, 02 July 14
NEWMONT FILES FOR INTERNATIONAL ARBITRATION ON ORE EXPORT BAN - THE JAKARTA POST
 PT Newmont Nusa Tenggara (NNT), a subsidiary of United States-based Newmont Corporation, has filed for international arbitration against the government over its ore-export ban policy, which the company claims has cost it dearly, as quoted by The Jakarta post, one of the leading English news papers in Indoneisa.
The Jakarta post further reported, the firm had filed the arbitration with the Washington-based International Center for the Settlement of Investment Disputes (ICSID), requesting an interim solution to allow NNT to resume exporting copper concentrate so that its Batu Hijau mine could resume operations, it said in a press statement on Tuesday.
The ore-export ban, which became effective on Jan. 12, had halted NNT’s Batu Hijau production and violated both the contract of work (CoW) between the company, in which Dutch firm Nusa Tenggara Partnership BV has a major shareholding, and the government, as well as a bilateral treaty between Indonesia and the Netherlands, said the company, JP said.
“Despite our best efforts over the last six months to resolve the export issues through good faith commitments to supporting the government’s policy, NNT has been unable to convince the government that our CoW should guide resolution of our differences,” said NNT president director Martiono Hadianto in a statement, Quoted by the Jakarta post.
Energy and Mineral Resources Ministry director general for minerals and coal R. Sukhyar said that the government would first examine details of the filing before taking any measures.
“We regret the firm’s decision […] We believe that everything can actually be settled,” he said.
“This situation will put a stop to our renegotiation process with the firm for some time,” he added.
As reported by The Jakarta post, Sukhyar said that NNT had previously conveyed its disappointment with the government’s ore-export ban and had declared force majeure despite intense discussion about the policy.
The ore-export ban requires mining firms in the country to export only processed minerals in a bid to develop the country’s downstream industry and provide added-value for exported mineral products.
The government has relaxed the regulations by allowing mining firms to continue exporting their mineral concentrates until 2017, when they will all be required to fully process their mineral products either in jointly owned smelters or in their own smelters.
During the interim period before 2017, the government has decided to impose progressive export duties ranging from 25 percent this year to 60 percent in 2016.
NNT previously said it would pay US$25 million to the government as a guarantee, known as a surety bond, of its commitment to build a smelter in the country in return for an export permit for its current semi-finished mineral with 95 percent copper concentrate.
Sukhyar said, however, that Newmont’s commitment to paying the bond had not yet materialized. Meanwhile, PT Freeport Indonesia which is the local arm of US-based mining giant Freeport McMoRan Gold & Copper Inc., has recently deposited $115 million in a surety bond, he said.
Sukhyar said, however, that his ministry had yet to grant an export permit to Freeport. “We will first continue our negotiations with Freeport on getting a memorandum of understanding [MoU] on issues such as royalty payments and contract extension. When that’s done, we will move on to the export permit,” he said.
According to The Jakarta Post, In addition to the Energy Ministry, Coordinating Economic Minister Chairul Tanjung has also repeatedly announced that the government was working on an MoU that would be legally binding on the next government.
One of the points in the MoU was a guarantee for Freeport, which operates the world’s second-largest copper mine and the world’s largest gold reserves in remote Papua, to extend its operation after its contract expires in 2021.
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Thursday, 25 January 24
THE RED SEA ESCALATION IMPLICATIONS ON GLOBAL SEABORNE TRADE - MARIA BERTZELETOU
In recent days, discussions have intensified about the potential impact on the seaborne trade and ton-miles due to the evolving dynamics of market ...
Thursday, 25 January 24
RED SEA SHIPPING DISRUPTIONS KEEP GEOPOLITICAL PREMIUM FOR COMMODITIES - FITCH RATINGS
Shipping disruptions and re-routing away from the Red Sea will maintain the geopolitical premium in the main commodity markets, including for oil a ...
Friday, 19 January 24
INDONESIA TARGETS 710 MLN METRIC TONS COAL OUTPUT IN 2024 AFTER RECORD 2023 - REUTERS
Indonesia, a major thermal coal exporter, aims to produce 710 million metric tons of coal in 2024, its mining minister said on Monday, after postin ...
Friday, 19 January 24
DRUMMOND COLOMBIA COAL OUTPUT ROSE 7.1% IN 2023 - REUTERS
Coal production from miner Drummond’s Colombia operations rose 7.1% in 2023 to 29.5 million metric tons, while exports declined by 2.6% to 27 ...
Friday, 19 January 24
CHINA'S 2023 COAL OUTPUT HITS RECORD HIGH - REUTERS
China’s coal output reached a record high in 2023, data from the statistics bureau showed on Wednesday, amid an ongoing focus on energy secur ...
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- The University of Queensland
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- PTC India Limited - India
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Energy Link Ltd, New Zealand
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