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Sunday, 28 September 14
BERAU AGREES DEAL WITH GOVT, MINING AREA REDUCED - THE JAKARTA POST
 Coal miner PT Berau Coal, a subsidiary of Jakarta-listed PT Berau Coal Energy (BRAU), has signed a memorandum of understanding (MoU) with the government regarding detailed talks on the company’s coal-mining contract of work (CCoW) on Friday morning, as part of a series of contract renegotiations between the ministry and miners to comply with the 2009 Mining Law, as reported by The Jakarta post yesterday.
The Energy and Mineral Resources Ministry’s director for coal, Bambang Tjahjono, said his office and Berau Coal signed the MoU on Friday morning and under the MoU, Berau Coal has agreed on principal to adjustments to a number of aspects of its CCoW, including the size of its mining area and a royalty payment to the government of 13.5 percent, the paper further said.
“We will now move forward to draft the contract amendment, in which we will adjust several issues until the company’s contract of work expires, after the expiry date, all matters will be based on the prevailing law.” Bambang said, as quoted by paper.
Berau Coal has also in principal agreed to reduce its mining area by 10,391 hectares, the reduction means the company will only manage 108,009 ha until its CCoW expires in 2025, from its previous 118,400 ha., according to Bambang.
Under the Mining Law, coal-mining concessions are limited to 15,000 ha. “After the contract expires, all will be according to the law; even more sites will be released,” Bambang said, according to paper.
According to paper, Neither Berau Coal president director Amir Sambodo nor general manager for corporate communication Singgih Widagdo replied to text and phone calls from The Jakarta Post seeking confirmation.
The government has been struggling to renegotiate numerous coal and mineral contracts of work (CoWs) to comply with the law, the renegotiations are focused on six issues, adjustments in income to the state; adjustments to the size of mining areas; obligations of divestment; obligations for domestic processing; continuity of operations; and obligations to use local goods and services, the paper said.
Seventy-three CCoWs and 34 mineral non-coal CoWs need to be renegotiated. Berau Coal’s MoU signing follows previous deals between the government and other big coal players, including PT Kaltim Prima Coal (KPC), PT Arutmin Indonesia and PT Adaro Indonesia.
Under its MoU with the government, KPC agrees to reduce its mining size to 84,938 ha from its current 90,938 ha. Arutmin’s mining area will be cut to 55,573 ha from 58,898 ha. Meanwhile, Adaro has agreed to release around 6,000 ha of its 34,940 ha.
The paper further said, the signing of the MoUs also means that the companies have in principal agreed to see their CoWs, which vary from one company to another, changed into coal-mining permits, which apply in general according to the law, in return for extensions to their operations.
“However, a decision on extension — if any — will be determined by the new government, and it will consider the company’s performance in good mining practices and the fulfillment of its obligations to the government,” Sukhyar said.
Companies are allowed to apply for operating extensions two years prior to their expiry date. The extension is limited to two extensions of 10 years.
Arutmin’s CCoW will expire in 2019 and that of its sister company KPC in 2021, while Adaro’s CCoW will last until 2022.
Source: The Jakarta Post
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Monday, 27 October 14
CFR SOUTH CHINA COAL SWAPS PERFORMED POSITIVE THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q4’ 2014 delivery decreased US$ 1.68 (-2.55%) month over month and increased US$ 0.87 (+1.3 ...
Sunday, 26 October 14
CAPE'S STRONG PERFORMANCE PUSHES BDI INDEX UPWARDS
COALspot.com: The BDI was up by 26.27 pct and closed at 1192 points week and week. The Cape size performance has pushed up BDI and Cape size index ...
Friday, 24 October 14
WEEKLY U.S COAL PRODUCTION DOWN 2.7% FOR THE WEEK ENDING OCTOBER 18
COALspot.com – United States the world's one of largest coal producers, produced approximately 18.7 million short tons (mmst) of coal in ...
Thursday, 23 October 14
THE BEARS, HOWEVER, STILL CRY; FOR HOW LONG WILL IT LAST? - FEARNLEYS
Handy
"We experience a typical oversupply of ships in the Atlantic which causing rates to slide. In the USG it is just enough cargoes to kee ...
Wednesday, 22 October 14
MARKET INSIGHT - THEODORE NTALAKOS, INTERMODAL
ECO designs - revisited
The ECO vessels are already here but the oil and bunker prices are plummeting to their cheapest level since 2010. Is this ...
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- The University of Queensland
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Siam City Cement - Thailand
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Australian Coal Association
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- PTC India Limited - India
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Economic Council, Georgia
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
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