Sunday, 19 Feb 2012
The Indonesian ministry’s mineral and coal director general Mr Thamrin Sihite said that The Energy and Mineral Resources Ministry and 15 mining firms are finalizing renegotiations over mining contracts as part of the companies’ adjustments to the new mining law.
Mr Thamrin said that the ministry and the 15 companies, comprising of 11 coal and four mineral miners, have finished working on the details of renegotiated clauses and were waiting to sign the new contracts.
Mr Thamrin said that “We’re completing the administration process to finalize the renegotiations with the 15 companies. But we have to report to the coordinating economic minister and the President first.”
However, Mr Thamrin would not reveal the names of the 15 companies. He said that “We’ll announce the renegotiation progress within two weeks.”
Currently, the ministry has 42 companies registered as having mineral mining contracts with the government (locally known as Kontrak Karya) and 76 companies have coal contracts of work.
In addition to the 15 companies, 65% of the 118 contract holders have also principally agreed to renegotiate. However, the details of such agreements are difficult to finalize.
Contract renegotiations have long been a major problem in the mineral and coal mining sector.
The 2009 law on minerals and coal mandates that all contracts signed before its implementation have to be adjusted to meet the terms of the law.
Throughout the renegotiation process, the government and miners have been discussing six main issues: the size of mining areas, contract extensions, the amount of royalties to be give, obligations to process raw materials in Indonesia, divestment and the utilization of local goods and services.
A mining expert from the ReforMiner Institute, Pri Agung Rakhmanto, warned that the progress of the renegotiations should not be judged solely on the amount of companies that have agreed to sign new contracts. He told The Jakarta Post said that “We should also take into account the scale of the companies and the commodities they produce. If only small companies agree to renegotiate, the result won’t be too significant.”
The renegotiated elements should also be monitored because if the amount of royalties remained untouched, there would be no additional revenue for the government.
He added that “In renegotiating with mining companies, the government has to be more firm and have a concrete strategy. A direct approach with the companies will also result in better outcomes.”
The government has set up a team to handle the renegotiations, led by Coordinating Economic Minister Hatta Rajasa. The working period of the team will end in 2013.
Meanwhile, Energy and Mineral Resources Minister Jero Wacik claimed on Thursday that PT Freeport Indonesia, operator of the Grasberg gold and copper mine in Timika, Papua, had agreed to renegotiate a contract.
Earlier, PT Newmont Nusa Tenggara, operator of the Batu Hijau gold and copper mine in West Nusa Tenggara, also claimed that it had no problem with the renegotiation plan.
(sourced Thejakartapost.com)
Showing posts with label coal mining contract. Show all posts
Showing posts with label coal mining contract. Show all posts
Sunday, February 19, 2012
Sunday, January 29, 2012
Industrea wins coal mine contract
Sunday, 29 Jan 2012
Miningaustralia.com.au reported that Industrea has renewed its mining contract at the Baralaba South mine in the Bowen Basin. The contract, with AUD 38 million annually, will see Industrea provide whole of mine services at the mine, including drill and blast works. It will run until December 31st 2013.
Industrea originally won the contract in 2009, and since then has completed various work including the construction of the recently completed 1:1000 flood levee wall extension.
At the end of 2010 severe flooding saw the Baralaba mine inundated with water.
Mr Robin Levison CEO of Industrea stated that the renewal is a demonstration of the strong relationship between it and Cockatoo Coal, which owns Baralaba. He added that "Subject to production volumes at the mine there is an option for Baralaba Coal to continue contract services in 2014".
(sourced Miningaustralia)
Miningaustralia.com.au reported that Industrea has renewed its mining contract at the Baralaba South mine in the Bowen Basin. The contract, with AUD 38 million annually, will see Industrea provide whole of mine services at the mine, including drill and blast works. It will run until December 31st 2013.
Industrea originally won the contract in 2009, and since then has completed various work including the construction of the recently completed 1:1000 flood levee wall extension.
At the end of 2010 severe flooding saw the Baralaba mine inundated with water.
Mr Robin Levison CEO of Industrea stated that the renewal is a demonstration of the strong relationship between it and Cockatoo Coal, which owns Baralaba. He added that "Subject to production volumes at the mine there is an option for Baralaba Coal to continue contract services in 2014".
(sourced Miningaustralia)
Thursday, September 8, 2011
Petrosea adds US$730 million contract
Thursday, 08 September 11
Coal mining contractor PT Petrosea Tbk (PTRO), a majority owned subsidiary of energy integrated company PT Indika Energy Tbk (INDY), has secured a US$730 million additional coal mining contracting from PT Adimitra Baratama Nusantara from initial contract of US$200 million, according to Insider Stories.
Petrosea, in an official statement to Indonesia Stock Exchange, said the additional contract has been signed by Petrosea on August 25 2011, renewing the previous agreement signed on August 19 2009 and January 18 2011. Under the additional contract, Petrosea is obliged to produce 14 million tons coal and 126 million bcm at Sanga-Sanga, East Kalimantan.
Adimitra Nusantara has guaranteed at least 5-year contract to make Petrosea optimizes new heavy equipments, which is in line with higher production.
Petrosea is 99.39% controlled by Indika Energy, a company that is owned by two stellar businessmen Agus Lasmono Sudwikatmono and Wiwoho Basuki Tjokronegoro.
By end of June 2011, 86.29% of Petrosea consolidated revenue were contributed by coal mining or worth US$96.99 million, services of US$8.25 million, and engineering and construction of US$6.13 million.
Petrosea booked US$112.39 million revenue in the first half of this year, a 26.58% increase from US$88.79 million a year earlier. Adimitra Nusantara contributed US$28 million revenue to Petrosea.
(sourced Insider Stories)
Coal mining contractor PT Petrosea Tbk (PTRO), a majority owned subsidiary of energy integrated company PT Indika Energy Tbk (INDY), has secured a US$730 million additional coal mining contracting from PT Adimitra Baratama Nusantara from initial contract of US$200 million, according to Insider Stories.
Petrosea, in an official statement to Indonesia Stock Exchange, said the additional contract has been signed by Petrosea on August 25 2011, renewing the previous agreement signed on August 19 2009 and January 18 2011. Under the additional contract, Petrosea is obliged to produce 14 million tons coal and 126 million bcm at Sanga-Sanga, East Kalimantan.
Adimitra Nusantara has guaranteed at least 5-year contract to make Petrosea optimizes new heavy equipments, which is in line with higher production.
Petrosea is 99.39% controlled by Indika Energy, a company that is owned by two stellar businessmen Agus Lasmono Sudwikatmono and Wiwoho Basuki Tjokronegoro.
By end of June 2011, 86.29% of Petrosea consolidated revenue were contributed by coal mining or worth US$96.99 million, services of US$8.25 million, and engineering and construction of US$6.13 million.
Petrosea booked US$112.39 million revenue in the first half of this year, a 26.58% increase from US$88.79 million a year earlier. Adimitra Nusantara contributed US$28 million revenue to Petrosea.
(sourced Insider Stories)
Friday, August 12, 2011
Mongolia picks Macmahon, BBM as contract miners for major deposit
Fri Aug 12, 2011
* Selection could mean India's Mesco Steel out of running
* Macmahon, BBM likely to start operations later this year -Erdenes Exec
ULAN BATOR Aug 12 (Reuters) - Mongolian state-owned miner Erdenes Tavan Tolgoi LLC has selected Australia's Macmahon Holdings Ltd and Germany's BBM Operta as mining contractors for the major East Tsankhi coal deposit, a top company executive told Reuters on Friday.
The government has split the massive Tavan Tolgoi coal field into two sections for development. The east Tsankhi area is owned by Erdenes TT, which is planning an initial public offering worth at least $10 billion to help fund the development of the deposit, while the west Tsankhi block is being auctioned to miners via an international tender.
The tender to pick mining contractors for east Tsankhi had also included India's privately-owned Mesco Steel. Its not clear how much the contract mining agreement is worth.
"Macmahon and BBM Operta have been chosen as contract miners for east Tsankhi," Erdenes MGL Executive Director B.Enebish told Reuters.
"They should be able to start mining operations this year."
Erdenes has said that it plans to produce 15 million tonnes of coal from the east Tsankhi field by around 2015.
To help bankroll the operations, it signed its first-ever term contract from the field with the Aluminium Corp of China Ltd , which will sell some of the coal to Chinese, Japanese and South Korean companies.
* Selection could mean India's Mesco Steel out of running
* Macmahon, BBM likely to start operations later this year -Erdenes Exec
ULAN BATOR Aug 12 (Reuters) - Mongolian state-owned miner Erdenes Tavan Tolgoi LLC has selected Australia's Macmahon Holdings Ltd and Germany's BBM Operta as mining contractors for the major East Tsankhi coal deposit, a top company executive told Reuters on Friday.
The government has split the massive Tavan Tolgoi coal field into two sections for development. The east Tsankhi area is owned by Erdenes TT, which is planning an initial public offering worth at least $10 billion to help fund the development of the deposit, while the west Tsankhi block is being auctioned to miners via an international tender.
The tender to pick mining contractors for east Tsankhi had also included India's privately-owned Mesco Steel. Its not clear how much the contract mining agreement is worth.
"Macmahon and BBM Operta have been chosen as contract miners for east Tsankhi," Erdenes MGL Executive Director B.Enebish told Reuters.
"They should be able to start mining operations this year."
Erdenes has said that it plans to produce 15 million tonnes of coal from the east Tsankhi field by around 2015.
To help bankroll the operations, it signed its first-ever term contract from the field with the Aluminium Corp of China Ltd , which will sell some of the coal to Chinese, Japanese and South Korean companies.
Friday, January 14, 2011
Shanxi Minmetals Industrial & Trading obtains approval for Mexican project
Tuesday, 04 January 2011 13:19:35 (GMT+2)
The development and reform commission of China's Shanxi Province has announced that local trading firm Shanxi Minmetals Industrial and Trading Co., Ltd (Shanxi Minmetals Industrial and Trading) has received approval from China's National Development and Reform Commission (NDRC) for its new iron ore project in the southern state of Jalisco in Mexico.
The project, which will involve both open-pit and underground mining, has estimated total reserves of 58.8 million mt of iron ore, with an annual iron ore output of 1.45 million mt.
Shanxi Minmetals Industrial and Trading signed the agreement to purchase the Mexican project in September 2009, and has since obtained mining rights and enviromental approvals.
Shanxi Minmetals Industrial and Trading mainly exports coke and bauxite, and also processes imported materials including manganese ore, chromium ore and iron ore and exports the processed products. Shanxi Minmetals Industrial and Trading is the third largest coke exporter and fourth largest bauxite exporter in China.
Source:steelorbis.com
The development and reform commission of China's Shanxi Province has announced that local trading firm Shanxi Minmetals Industrial and Trading Co., Ltd (Shanxi Minmetals Industrial and Trading) has received approval from China's National Development and Reform Commission (NDRC) for its new iron ore project in the southern state of Jalisco in Mexico.
The project, which will involve both open-pit and underground mining, has estimated total reserves of 58.8 million mt of iron ore, with an annual iron ore output of 1.45 million mt.
Shanxi Minmetals Industrial and Trading signed the agreement to purchase the Mexican project in September 2009, and has since obtained mining rights and enviromental approvals.
Shanxi Minmetals Industrial and Trading mainly exports coke and bauxite, and also processes imported materials including manganese ore, chromium ore and iron ore and exports the processed products. Shanxi Minmetals Industrial and Trading is the third largest coke exporter and fourth largest bauxite exporter in China.
Source:steelorbis.com
Wednesday, January 5, 2011
BUMA Secures US$500 Million Berau Coal Contract
Courtsey news via Theindonesiatoday.com
PT Bukit Makmur Mandiri Utama (BUMA) Tbk, a subsidiary of Delta Dunia Makmur (DOID), has secured an up to US$500 million coal mining contract from PT Berau Coal.
DOID told stock market authorities that BUMA secured the contract from PT Berau Coal (BRAU) Tbk, parent company of PT Berau Coal for its Pit East 2.
Under the contract, BUMA shall remove overburden of up to 226 million BCM and mine coal of 20.7 million tons. The contract was signed December 27, 2010. Effective March 2011, the contract will end in five years time with estimated value of between US$400 million to US$500 million. Other than the new contract, BUMA also has other contracts with BRAU with maturity in 2018.
For any inquiry this article please mail to ferdi@theindonesiatoday.com
PT Bukit Makmur Mandiri Utama (BUMA) Tbk, a subsidiary of Delta Dunia Makmur (DOID), has secured an up to US$500 million coal mining contract from PT Berau Coal.
DOID told stock market authorities that BUMA secured the contract from PT Berau Coal (BRAU) Tbk, parent company of PT Berau Coal for its Pit East 2.
Under the contract, BUMA shall remove overburden of up to 226 million BCM and mine coal of 20.7 million tons. The contract was signed December 27, 2010. Effective March 2011, the contract will end in five years time with estimated value of between US$400 million to US$500 million. Other than the new contract, BUMA also has other contracts with BRAU with maturity in 2018.
For any inquiry this article please mail to ferdi@theindonesiatoday.com
Subscribe to:
Posts (Atom)
Posts
