Indonesian Mining Association

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Revised Regulation to Ease Burden Faced By Ailing Miners

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Raras Cahyafitri

JAKARTA. The government is revising the regulation on the assessment of smelter development, connected to leniency in export permits, as part of its efforts to support mining firms mired by financial woes.

The Energy and Mineral Resources Ministry director for mineral at the mineral and coal directorate general, Mohammad Hidayat, said Friday that his office was evaluating a regulation on the requirements for selling processed and refined minerals.

"Several matters have to be adjusted to adapt to the current situation. This adjustment is not only meant for Freeport but also for numerous other companies that are having difficulty with smelter projects," Hidayat said, playing down suggestions that the move was related to ongoing negotiations between the Indonesian government and PT Freeport Indonesia following the latter’s export permit expiry late last month.

Mining firms around the world have been under pressure amid a prolonged slump in global commodity prices.

Hidayat said the regulation adjustment would likely cover new measurements in the assessment of smelter development and the withdrawal procedure for surety bonds.

Under current regulation, mining firms working on smelter projects have to deposit 5 percent of their total investment in local banks as collateral to ensure that they will continue the development. The surety bonds are a prerequisite for the firms to obtain permits to export semi-finished mineral products.

"We need to check further, to help them continue the project by allowing the companies to withdraw the fund in accordance with the progress of their smelters. We cannot hold these funds if operations are hindered due to a lack of funds," Hidayat said.

The smelter development is part of the government’s added-value minerals policy, mandated under the 2009 Mining Law.

The law obliges mining firms to have processed and refined minerals in domestic smelters by 2014. However, most firms have been reluctant to comply with the new obligation, saying such projects are not economically feasible.

Moves to work on the projects were only seen in late 2013 after the government said it would officially ban raw mineral exports in early 2014 as a consequence of the value-added policy. Meanwhile, a relaxation was granted to allow those companies producing semi-finished minerals, such as copper concentrate, to continue exporting product until 2017, so long as a commitment to smelter projects was confirmed.

Reportedly, small-sized smelters have been progressing at a snail’s pace with only six new smelters beginning operations last year. According to figures from the mineral and coal office, three nickel smelters, one bauxite smelter and three Lead-zinc smelters are scheduled to be operational this year. However, no significant progress has been reported with regard to other smelters, those refining valuable minerals, particularly copper, as in the case of PT Freeport Indonesia.

Following Freeport Indonesia’s export permit expiry, the Energy and Mineral Resources Ministry declined to grant an extension recommendation as the company failed to show significant development with its smelter project in Gresik, East Java The ministry also requested the firm increase its deposit to USS53O million due to the commitment delays.

Hidayat admitted that the requirements for PT Freeport Indonesia would also be reviewed. He did not provide further details regarding the review.

Energy and Mineral Resources Minister Sudirman Said revealed that the company had requested some discounts to the required deposit.

"They made the request because they are in financial trouble," he said.

Freeport Indonesia is a major contributor to its 90.64 percent owner, Freeport McMoRan Copper and Gold Inc., who announced poor performance last week. Moody’s Investors Service has cut the company’s credit rating to junk status. Richard Adkerson, chief executive officer of Freeport McMoRan Copper and Gold Inc., said, as quoted by Bloomberg, that the company had considered selling its mining assets either wholly or partially.

 Source : The Jakarta Post, February 06, 2016

Last Updated ( Thursday, 11 February 2016 07:45 )
 

Indonesia Govt Optimistic Freeport Export Permit to Be Renewed Next Week -Official

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By Fergus Jensen

JAKARTA, FEB 5. Indonesia's mining ministry is confident U.S miner Freeport McMoRan Inc will be issued with an extension of its copper concentrate export permit next week, a government official said on Friday.

Freeport's export permit expired last week amid a dispute over a smelter project that the government said has fallen behind schedule.

An extended halt in Freeport's exports would be a blow to its profits and deny the Indonesian government desperately needed revenue from one of its biggest taxpayers. A stoppage would also buoy global copper prices that fell around 25 percent last year and hit six-year lows in mid-January.

"I am optimistic all of this will be finalised next week," an official with direct knowledge of the matter told Reuters.

"Our focus is how can exports resume."

The official, who did not want to be identified because of the sensitivity of the matter, declined to comment on a $530 million dollar bond the government has requested from the Phoenix, Arizona-based miner as a guarantee it will complete construction of another local smelter.

"We also feel optimistic," a spokesman for Freeport's Indonesian unit told Reuters when asked whether a renewal of its export permit was likely next week.

The spokesman declined to comment further.

A 2014 rule requires Freeport to invest further in domestic processing as a prerequisite for obtaining its export permits. However, construction of Freeport's second smelter has not begun yet, the government official said.

"We are pushing so that this can be accelerated," the official said.

The government is working to ensure that Freeport's operations run smoothly, but also that the company follows prevailing laws, amid a "slight difference of interpretation of regulations," the official said. (Reporting by Fergus Jensen; Editing by Tom Hogue)

 Source : REUTERS, February 05, 2016

Last Updated ( Thursday, 11 February 2016 07:42 )
 

Permen ESDM Akan Direvisi

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JAKARTA. Pemerintah baka! mempermudah perusahaan mineral mendapatkan izin ekspor konsentrat dengan merevisi Peraturan Menteri ESDM No. 11/2014 tentang Tata Cara dan Persyaratan Pemberian Rekomendasi Pelaksanaan Penjualan Mineral ke Luar Negeri Hasil Pengolahan dan Pemurnian.

Beleid yang masih berlaku itu menyebutkan bahwa izin ekspor konsentrat bisa diberikan apabila progres pembangunan fasilitas pemurnian (smelter) minimal mencapai 60% dari target yang ditetapkan setiap enam bulan.

Direktur Pembinaan Pengusa-haan Mineral Kementerian Energi dan Sumber Daya Mineral (ESDM) Mohammad Hidayat mengatakan, revisi tersebut dilakukan dengan mempertimbangkan pasar komoditas yang sedang lesu.

"Yang enggak mampu capai 60% per enam bulan apa perlu dibiarkan? Kasihan kan karena situasinya memang demikian," katanya, Jumat (5/2).

Dia menjelaskan, anjloknya harga komoditas telah menggerus keuangan perusahaan-perusahaan yang sedang membangun smelter. Alhasil, syarat yang diwajibkan untuk memeroleh izin ekspor konsentrat mineral sulit terpenuhi.

Rencananya, cara perhitungan progres pembangunan akan diubah. Sementara persentase minimal per enam bulan diperkirakan tetap 60%.

"Perhitungan progres smelter kami atur lagi. Kami tata supaya gampang mengukurnya," ujarnya.

Jika saat ini progres dinilai berdasarkan realisasi pembangunan fisik atau serapan dana, nantinya kontrak-kontrak yang sudah diteken akan menjadi pertimbangan kendati belum dilunasi. Artinya, perusahaan lebih mudah memenuhi syarat progres pembangunan smelter.

Selain itu, syarat pencairan jaminan kesungguhan yang sudah disetorkan sebelumnya akan diperlonggar.

"Kami atur jaminan kesungguhan bisa dikembalikan sesuai dengan progres pembangunan smelter-nya supaya mereka masih bisa jalan," katanya.

Adapun rencana revisi ini bertepatan dengan upaya PT Freeport Indonesia untuk kembali mendapatkan izin ekspor konsentrat tembaga untuk enam bulan ke depan, setelah habis pada 28 Januari 2016.

KARENA SITUASI

Berkaitan dengan hal itu, Hidayat membantah revisi dilakukan hanya untuk kepentingan perusahaan asal Amerika Serikat itu.

"Kami ubah aturan enggak karena Freeport, tapi situasinya memang kayak gini. Ini kebetulan saja Freeport," tuturnya.

Lebih jauh mengenai Freeport, Hidayat mengungkapkan, perusahaan itu telah memberikan jawaban soal kewajiban setoran US$530 juta agar bisa memperoleh rekomendasi izin ekspor baru.

Pihaknya saat ini masih melakukan evaluasi dan belum bisa menentukan kapan rekomendasi izin ekspor akan diberikan. Dia berharap agar proses evaluasinya segera selesai sehingga keputusan bisa langsung diberikan.

Sementara itu. Direktur Freeport Indonesia Clementino Lamury mengatakan, pihaknya terus berdiskusi dengan pemerintah agar segera mendapatkan izin ekspor baru.

"Kami terus bekerja sama dengan pemerintah, kami berharap agar rekomendasi ekspor bisa segera keluar," ujarnya.

Dia enggan mengungkapkan apakah jawaban yang diberikan kepada pemerintah memuat permohonan keringanan atau tidak.

Pada akhir Januari lalu, progres pembangunan smelter Freeport baru mencapai 14% atau jauh di bawah target sebesar 30%. Serapan dana untuk proyek seni-lai US$2,3 miliar itu pun baru mencapai US$168 juta.

Oleh karena itu, pemerintah meminta agar Freeport menyetor dana senilai US$530 juta untuk menutupi kekurangannya tersebut. (Lucky L Leatemla)

 Sumber : Bisnis Indonesia, 06 Februari 2016

Last Updated ( Thursday, 11 February 2016 07:38 )
 

Negosiasi Berlangsung, Produksi Berjalan Normal

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Lucky L Leatemia

JAKARTA. Kendati PT Freeport Indonesia masih melakukan negosiasi dengan pemerintah terkait dengan permohonan izin ekspor konsentrat tembaga, kegiatan produksi perusahaan asal Amerika Serikat tersebut belum terdampak.

Juru bicara Freeport Indonesia Riza Pratama mengatakan, hingga saat ini, pihaknya masih berunding dengan pemerintah terkait rekomendasi ekspor konsentrat tembaga. Freeport belum memeroleh rekomendasi izin ekspor dari Kementerian Energi dan Sumber Daya Mineral (ESDM).

"Kami masih berunding [rekomendasi izin ekspor konsentrat]. [Produksi] masih normal," katanya kepada Bisnis, Senin (8/2).

Setelah izin ekspor sebelumnya kedaluarsa pada 29 Januari, pemerintah mewajibkan Freeport menyetor dana senilai US$530 juta untuk bisa mendapatkan perpanjangan ekspor.

Uang jaminan itu diperlukan karena progres pembangunan fasilitas pengolahan dan pemurnian atau smelter tembaga katoda masih rendah. Pembangunan smelter itu menjadi salah satu persyaratan mendapatkan izin ekspor konsentrat tembaga.

Pada akhir Januari, progres pembangunan smelter Freeport yang berlokasi di Gresik baru mencapai 14% atau jauh di bawah target 30%. Serapan dana-untuk proyek senilai US$2,3 miliar itu pun baru mencapai US$168 juta.

Terkait dengan syarat itu, Freeport telah menyampaikan responsnya secara resmi kepada pemerintah. Namun, Direktur Freeport Indonesia Clementino Lamury ketika ditemui enggan mengungkapkan apakah jawaban yang diberikan kepada pemerintah memuat permohonan keringanan atau tidak.

"Kami terus bekerja sama dengan pemerintah, kami berharap rekomendasi ekspor bisa segera keluar," ujarnya singkat.

REVISI REGULASI

Di sisi lain, pemerintah bakal mempermudah perusahaan mineral mendapatkan izin ekspor konsentrat dengan merevisi Permen ESDM Nomor 11 Tahun 2014 tentang Tata Cara dan Persyaratan Pemberian Rekomendasi Pelaksanaan Penjualan Mineral ke Luar Negeri Hasil Pengolahan dan Pemurnian.

Beleid yang masih berlaku itu menyebutkan izin ekspor konsentrat bisa diberikan apabila progres pembangunan smelter minimal mencapai 60% dari target yang ditetapkan setiap 6 bulan.

Direktur Pembinaan Pengusa-haan Mineral Kementerian ESDM Mohammad Hidayat mengatakan, revisi tersebut dilakukan dengan mempertimbangkan pasar komoditas yang sedang lesu.

"Yang tidak mampu capai 60% per 6 bulan apa perlu dibiarkan? Kasihan kan karena situasinya memang demikian," katanya, akhir pekan lalu.

Dia menjelaskan, anjloknya harga komoditas telah menggerus keuangan perusahaan-perusahaan yang sedang membangun smelter. Namun, syarat yang diwajibkan untuk memeroleh izin ekspor konsentrat mineral sulit terpenuhi.

Pemerintah berencana untuk mengubah cara penghitungan progress pembangunan smelter. Sementara persentase minimal per 6 bulan diperkirakan tetap 60%. "Perhitungan progres smelter kami atur lagi. Kami tata supaya gampang mengukurnya."

Jika saat ini progres dinilai berdasarkan realisasi pembangunan fisik atau serapan dana, maka nantinya kontrak-kontrak soal proyek yang sudah diteken akan menjadi pertimbangan kendati belum dilunasi. Perusahaan akan lebih mudah memenuhi syarat progres pembangunan smelter.

Selain itu, syarat pencairan jaminan kesungguhan yang sudah disetorkan sebelumnya akan diperlonggar. "Kami atur jaminan kesungguhan dapat dikembalikan sesuai progres pembangunan smelter-nya supaya mereka masih bisa jalan."

Terkait dengan kontrak, Freeport telah menggandeng Chiyoda Corporation untuk konstruksi dengan nilai kontrak mencapai US$927 juta. Freeport sudah pernah menyetor dana jaminan kesungguhan sebesar 5% dari nilai proyek atau US$115 juta pada 2014. EB

 Sumber : Bisnis Indonesia, 09 Februari 2016

Last Updated ( Thursday, 11 February 2016 07:35 )
 
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