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Wednesday, 24 September 14
ADARO AGREED TO REDUCE ITS CONCESSION AREA TO 31,379.8 HECTARES
 COALspot.com: PT Adaro Energy Tbk (Adaro Energy) today announced that, PT Adaro Indonesia (AI), its wholly owned subsidiary, entered into a Memorandum of Understanding (MOU) with the Director General of Minerals and Coal, of the Ministry of Energy and Mineral Resources of the Government of the Republic of Indonesia.
This MOU was signed in the framework of the renegotiation process to adjust the Coal Cooperation Agreement (CCA) as mandated by Article 169 of Law No. 4 of 2009 on Mineral and Coal Mining, which is preceded by an agreement of six strategic issues:
- CCA area, the continuation of Mining Operations,
- State Revenue,
- Obligations of Domestic Processing,
- Obligations to Divest, and
- Use of Local Labor, Goods, and Domestic Services. For example, AI has agreed to reduce its concession area to 31,379.8 hectares.
President Director of Adaro Energy, Mr. Garibaldi Thohir, said, “The signing of the MOU is evidence the Adaro Energy Group continues to fulfill the mandate and obligations of Indonesian law as part of the normal course of conducting our business. The MOU is consistent with our main goal of creating maximum sustainable value from Indonesian coal. The key terms are in line with our desire to be an asset to our country. We will continue to deliver positive energy to all of our stakeholders for many years to come and in doing so help build the nation.”
Adaro’s principal mining location is at Tabalong district in South Kalimantan, where its subsidiary PT Adaro Indonesia operates the largest single-site coal mine in the southern hemisphere. Adaro operates under a first-generation CCA (coal co-operation agreement) with the Indonesian Government.
According to Adaro Energy website, Adaro produced 52.3 Mmt of coal in 2013 and coal sales reached 53.5 Mmt. Adaro blessed with 12.8 billion tons of sub-bituminous coal with moderate or low CV, ultra Low sulphur, Ash and NOx emission.
25% of total coal production allocated to or supplied to Indonesian utilities and remaining 75% shipped to its overseas customers. In 2014 Adaro plan to produce between 54 million and 56 million tonnes of coal.
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Tuesday, 09 December 14
API 8 CFR SOUTH CHINA COAL SWAPS FELL 1.8% MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased US$ 1.84 (-2.91%) month over month and US$ 0.95 (-1.52%) we ...
Monday, 08 December 14
GOVERMENT TO WITHDRAW CNC STATUS OVER SUSPECTED FLAWS - THE JAKARTA POST
The Energy and Mineral Resources Ministry’s directorate general for mineral and coal plans to review the clean and clear (CnC) status held by ...
Monday, 08 December 14
FOB NEWCASTLE COAL SWAPS SLIP W-O-W AND M-O-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery closed at US$ 52.10 on 5 December after losing US$ 0.55 (-1.04%) month over ...
Sunday, 07 December 14
SUPRAMAX S8 ROUTE SLIGHTLY INCREASED WEEK ON WEEK
COALspot.com: The BDI continued its fall as cape index fell heavily week on week.
The BDI lost around14.83 pct within last five working day an ...
Saturday, 06 December 14
TANKER FLOATING STORAGE PLAYS COULD COME INTO PLAY IF VLCC RATES STAY AT CURRENT LEVEL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Contango: A phenomenon in commodities futures price curves where the delivery price of a futures contract is greater than the current price. With t ...
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- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
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- Pendopo Energi Batubara - Indonesia
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- Directorate General of MIneral and Coal - Indonesia
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- SMC Global Power, Philippines
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- India Bulls Power Limited - India
- White Energy Company Limited
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- Bhatia International Limited - India
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- VISA Power Limited - India
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- New Zealand Coal & Carbon
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- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Independent Power Producers Association of India
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- Intertek Mineral Services - Indonesia
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- Price Waterhouse Coopers - Russia
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- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
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- Altura Mining Limited, Indonesia
- Minerals Council of Australia
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- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
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- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
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- Semirara Mining and Power Corporation, Philippines
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- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
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- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
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- Larsen & Toubro Limited - India
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- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
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- MS Steel International - UAE
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- Commonwealth Bank - Australia
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- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
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- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
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- Bayan Resources Tbk. - Indonesia
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