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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, 02 February 24
DRY BULK MARKET: THE DOWNWARD REVISION IN THE GROWTH OF CAPESIZE TONNE DAYS IN JANUARY WITH THE BCI DROPPING - MARIA BERTZELETOU
In the last week of January, the dry freight market sustained weakness in the Capesize segment, while the number of ballasters in the Southeast (SE ...
Friday, 02 February 24
COAL INDIA ACHIEVES NEARLY 80% OF ITS FY24 PRODUCTION TARGET IN TEN MONTHS - CNBCTV18
For the month of January, the company’s production grew by 9.1% from the same period last year to 78.4 Million Tonnes (MT), from 71.9 MT last ...
Thursday, 01 February 24
CHINA'S WIND, SOLAR CAPACITY TO OVERTAKE COAL IN 2024 - INDUSTRY BODY, REUTERS REPORTED
China’s installed wind and solar capacity is expected to overtake coal for the first time this year, according to industry forecasts.
&nb ...
Thursday, 01 February 24
ANTI-DEDUCTION CLAUSES: CAN A CHARTERER WITHHOLD HIRE WITHOUT AN OWNER'S CONSENT? - SKULD
KNOWLEDGE TO ELEVATE
Summary
In The Anna Dorothea, the Court found that where a charterparty provides that no deduction from hire may be m ...
Thursday, 01 February 24
INDIA REBUILDS COAL STOCKS TO ENSURE ELECTRIC RELIABILITY - REUTERS
India’s electricity supply is much more comfortable at the start of 2024 than in either 2023 or 2022 as coal production has ramped up and the ...
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Showing 41 to 45 news of total 6871 |
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- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Parry Sugars Refinery, India
- The University of Queensland
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
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