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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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Tuesday, 13 February 24
WHAT IS THE OUTLOOK FOR THE NATURAL GAS SPOT PRICE IN 2024 AND 2025? EIA
We expect the U.S. benchmark Henry Hub natural gas spot price to average higher in 2024 and 2025 than in 2023, but to remain lower than $3.00 per m ...
Monday, 12 February 24
US THERMAL COAL EXPORTS HIT 5-YEAR HIGHS AND TOP $5 BLN IN 2023 - REUTERS
United States exporters of thermal coal earned more than $5 billion in 2023 as they shipped out more than 32.5 million metric tons of the high-poll ...
Tuesday, 06 February 24
NEW E-FUELS PROJECT TO MAKE INTERNATIONAL SHIPPING CLIMATE-NEUTRAL - RINA
Transport and trade on the ocean blue must be made much greener. This is the goal of the new €17 million European GAMMA project, where compani ...
Tuesday, 06 February 24
INDIA SEES ANNUAL COAL OUTPUT UP 10.9% IN 2024/25 - REUTERS
India expects domestic coal output to increase by 10.9% to 1.13 billion metric tons in the fiscal year ending March 2025, a senior government offic ...
Tuesday, 06 February 24
INDIA'S COAL PRODUCTION INCREASES BY 10.3% TO 99.73 MILLION TONNE IN JANUARY - PTI
The country’s coal output rose 10.3 per cent to 99.73 Million Tonne (MT) in January, over the same month in the previous fiscal.
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- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- The University of Queensland
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
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