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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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Monday, 08 January 24
KOSPO TO BUY 80000 MT OF INDONESIAN LOW CALORIFIC VALUE COAL FOR FEB 2024
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for the supply of Indonesian Low Calorific Value Coal from qualified suppliers for Korean ...
Monday, 08 January 24
SEABORNE TRADE REACHES 12.4BN TONNES - CLARKSONS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
Monday, 08 January 24
CAPESIZES START THE NEW YEAR ON POSITIVE NOTE - BALTIC EXCHANGE
Capesize
This week the capsize market has been marked by a mix of activities and challenges. Despite a slow start following the Christmas and N ...
Friday, 05 January 24
MORGAN STANLEY SEES LOWER OIL PRICES IN 2024 ON OVERSUPPLY CONCERNS - REUTERS
Morgan Stanley sees Brent crude prices anchored near $80 per barrel in the first half in 2024 before declining towards the end of the year as it ex ...
Friday, 05 January 24
INDIA'S COAL OUTPUT RISES NEARLY 11 PC IN DEC TO 92.87 MT - PTI
India’s coal production increased by 10.75 per cent to 92.87 million tonne in December 2023 as compared to the year-ago period, an official s ...
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- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- White Energy Company Limited
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Posco Energy - South Korea
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
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