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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, 25 September 14
LACK OF COAL BUSINESS PUSHING DOWN PANAMAX EARNINGS IN PACIFIC
Handy
In the Atlantic we see rates steady climbing upwards. More coal cargoes out of USG and USEC are helping the TA market which is up some USD ...
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 M ...
Wednesday, 24 September 14
CAPESIZE: ACTIVITY IN BOTH BASINS WAS UNIMPRESSIVE
COALspot.com: The end of the week prior seems to have marked the tone for the days that followed, with the Dry Bulk market giving up a significant ...
Tuesday, 23 September 14
MEDCO TO INCREASE ITS COAL PRODUCTION NEXT YEAR
COALspot.com: PT Medco Energi Internasional is looking to increase its coal production next year, supported by the launch of operations at its Duta ...
Monday, 22 September 14
COAL SECTOR CHAOS - GENESIS TO REVELATION - DIPESH DIPU
COALspot.com: “Let there be light”, intends the government of India but the fuel side of the story paints a blackout. The recent Suprem ...
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- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Marubeni Corporation - India
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- Petron Corporation, Philippines
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