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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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Friday, 05 January 24
BANGLADESH’S 2023 COAL-FIRED POWER OUTPUT TRIPLED, EASING SHORTAGES - REUTERS
Bangladesh nearly tripled its coal-fired power output in 2023, a Reuters analysis of government data showed, helping it tide over the worst power s ...
Tuesday, 02 January 24
COAL TRADE CONTINUES TO HEAD EAST - BALTIC EXCHANGE
The global coal trade, once concentrated in the Pacific and Atlantic basins, is undergoing a significant transformation, as highlighted in the Inte ...
Tuesday, 02 January 24
COAL CARGOES: AVOIDING EXPLOSION AND SELF-HEATING - GARD
KNOWLEDGE TO ELEVATE
Despite its contribution to greenhouse gas emissions, global coal consumption climbed to an all-time high in 2022 and is ...
Tuesday, 02 January 24
SINOPEC FORECASTS CHINA’S COAL CONSUMPTION TO PEAK AROUND 2025 - REUTERS
China Petrochemical Corp, or Sinopec, expects coal consumption to peak around 2025 at 4.37 billion metric tons, the state energy group said in an o ...
Thursday, 07 December 23
CHINA TO SET UP COAL PRODUCTION RESERVE TO STABILISE PRICES - REUTERS
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 ...
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- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
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