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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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Sunday, 24 August 14
SEA FREIGHT MARKETS STARTING TO LOOK POSITIVE; CAPES DRIVE FREIGHTS HIGHER
COALspot.com: The freight market has strengthen further this week with BDI up 7.19 pct week on week. The BDI was closed at 1,088 points while the B ...
Friday, 22 August 14
INDIAN IRON ORE ROYALTY RISE NOT LIKELY TO HURT STEELMAKERS' MARGINS - FITCH
Fitch Ratings does not expect an increase in India's iron ore royalty rates to have a major impact on the profitability of steel producers in t ...
Friday, 22 August 14
ARBITRATION CLAUSE IN LOU HELD TO REPLACE CHARTERPARTY ARBITRATION CLAUSE
KNOWLEDGE TO ELEVATE
The Claimants had claims for cargo damage against the vessel Owners arising under four bills of lading. The vessel was th ...
Friday, 22 August 14
ICAP ENERGY LAUNCHES GLOBAL COKING COAL DERIVATIVES TRADING
First contract completed and cleared on CME
COALspot.com: ICAP Energy, the energy business of ICAP plc, announces today that it has successful ...
Friday, 22 August 14
U.S WEEKLY COAL PRODUCTION UP 2.4% WEEK OVER WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.60 million short tons (mmst) of coal in ...
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- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
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