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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, 22 March 24
INDONESIA APPROVES 922.14 MLN T COAL PRODUCTION QUOTA FOR 2024, ABOVE TARGET - REUTERS
Indonesia has approved coal production quotas totalling 922.14 million metric tons for 2024, Bambang Suswantono, a senior official at the mining mi ...
Friday, 22 March 24
CHINA COAL INDUSTRY GROUP EXPECTS OUTPUT GROWTH TO SLOW IN 2024 - REUTERS
China’s coal output is expected to increase 36 million metric tons, or 0.8%, to about 4.7 billion tonnes in 2024, a Chinese coal industry gro ...
Monday, 18 March 24
THREE KEY TAKEAWAYS FROM OUR EUROPE GAS MARKETS SHORT-TERM OUTLOOK Q1 2024 - WOOD MACKENZIE
European gas prices are currently back to pre-crisis levels, but with a complex series of factors affecting future supply and demand, are they set ...
Wednesday, 06 March 24
INDONESIA AIMS TO FINISH MINING OUTPUT QUOTAS APPROVAL BY END-MARCH, OFFICIAL SAYS - REUTERS
Indonesia’s has approved the mining production quotarequests from more than 120mineral companies and aims to complete the approval process th ...
Monday, 04 March 24
IS YOUR GUARANTEE A GUARANTEE? NOTE TO SHIPOWNERS - GARD
KNOWLEDGE TO ELEVATE
The law of guarantees is not always obvious or easy to understand without proper guidance. This article clarifies the dif ...
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Showing 26 to 30 news of total 6871 |
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- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Vedanta Resources Plc - India
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
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