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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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- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Australian Coal Association
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Planning Commission, India
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- The University of Queensland
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
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