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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, 07 July 14
RBCT, THE WORLD'S SINGLE LARGEST EXPORT COAL TERMINAL SHIPPED 31.91 MMT OF COAL IN H1 2014
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the world’s single largest export coal terminal, shipped 31.91 million ton ...
Monday, 07 July 14
SOUTH AFRICA'S RICHARDS BAY COAL TERMINAL SHIPPED 12% LESS COAL IN JUNE COMPARED TO MAY EXPORTS
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the world’s single largest export coal terminal, shipped 4.91 million tons ...
Monday, 07 July 14
INDONESIAN SUB-BIT COAL SWAPS FOR Q3 DELIVERY CRASHES THROUGH $ 54.50
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on day, week and on month according to AsiaClear OTC coal swap's reports re ...
Monday, 07 July 14
API 8 CFR SOUTH CHINA COAL SWAPS SHOW A DOWNWARD TREND THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for delivery in Q3 drops US$ 5.47 month on month on Friday, dipping under $68 a ton. The CFR South Ch ...
Sunday, 06 July 14
PANAMAX INDEX BEING THE BIGGEST GAINER THIS WEEK; UP 52.75% W-O-W
COALspot.com: This week there was some positive signs in all the sectors. The Panamax index being the biggest gainer this week after losing for sev ...
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- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Minerals Council of Australia
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
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