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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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Thursday, 02 October 14
CAPESIZE - DULL AND WITHOUT MUCH DIRECTION AS IRON ORE AND COAL VOLUMES FAIL TO LIVE UP EXPECTATIONS
Handy
After the recent weeks´ rate increase in the Atlantic we see Panamaxes snapping up handymax and Supra cargoes at much lower levels, p ...
Wednesday, 01 October 14
ASIAN THERMAL COAL PRICES TO REMAIN WEAK ON OVERSUPPLY - FITCH
COALspot.com: The thermal coal market in Asia will remain oversupplied in the next 12 months, in spite of on-going rationalisation of production, a ...
Wednesday, 01 October 14
PANAMAXES: DEFENSIVE, STRUGGLING TO KEEP ANY FURTHER DECREASES - INTERMODAL
COALspot.com: The Dry Bulk market seemed unable to shake off the trend of the week prior and the BDI remained on a downward slope for the bigger pa ...
Wednesday, 01 October 14
FITCH: GLOBAL ECONOMY FACES MULTI-SPEED RECOVERY, MULTIPLE RISKS
Fitch Ratings says in its latest Global Economic Outlook (GEO) that global growth will pick up in 2015 and 2016, but risks are weighted to the down ...
Tuesday, 30 September 14
COALVIEW TO PARTICIPATE AT MET COKE WORLD SUMMIT 2014 IN CHICAGO
COALspot.com: Coalview Ltd., LLC(“Coalview”) America's leading fully integrated coal technology and fine coal recovery company prov ...
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- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Australian Coal Association
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
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