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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, 11 August 14
SGX CFR SOUTH CHINA COAL SWAPS DIRECTION HEADING TO NORTH
COALspot.com: API 8 CFR South China Coal swap for delivery in September 2014 increased US$ 0.50 (+0.74%) day on day and US$ 1.55 (+2.33%)&nbs ...
Monday, 11 August 14
A TALE OF TWO TRADES - EVA TZIMA
COALspot.com: It has without a doubt been “a cruel, cruel summer” for the Dry Bulk market so far and with second hand values still stan ...
Sunday, 10 August 14
FREIGHT RATES FROM INDONESIA TO INDIA IS EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com: This week the BDI and other segments saw some improvements. The BDI increased by 3.46 pct week on week and closed at 777 points.
...
Friday, 08 August 14
MINING DISPUTE IS CRIPPLING LOCAL ECONOMIES IN EASTERN INDONESIA - JG
- By Iwan Harsono -
It seems as if there’s no end in sight to the series of negotiations between the government and mining companies about ...
Friday, 08 August 14
CAPESIZE RATES ARE REMAINING MORE OR LESS UNCHANGED AT BOTTOM LOW LEVELS - FEARNLEYS AS
Handy
An improving sentiment with stronger rates and fair demand for prompt tonnage in the Atlantic, both on the Continent and in the Med for the ...
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Showing 3551 to 3555 news of total 6871 |
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- MS Steel International - UAE
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- The University of Queensland
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Planning Commission, India
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
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