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Smaller Miners to Take Hit From Royalty Hike

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Wilda Asnurini

REUTERS. Indonesia’s plan to roughly double coal royalties next month is expected to hurt mast for smaller and newer firms producing low-quality coal, government and industry officials say, with many struggling as prices have halved since 2011.

The world’s top exporter of thermal coal is looking to increase returns from its output to promote development in Southeast Asia’s largest Economy, and is tightening the central governments grip on a sector governed by regional administrations.

The hike, which still needs approval from the finance and economic ministries, will roughly double royalties most coal miners currently pay and is expected to be introduced in March.

"The main impact will be felt by companies [mining] low-calorie [coal]," coal and minerals director general Sukhyar told reporters. Smaller and newer miners with higher costs would also face problems, he said.

Low-calorie coal - 3,000 kilocalories per kilogram or less - accounts for around 30 percent of Indonesia’s output, which is expected to reach 425 million metric tons this year, Sukhyar added.

The increase will apply to holders of newer mining licenses (IUP), while larger older generation firms with so-called contracts of work, like Bumi Resources and Berau Coal Energy, will be unaffected.

"Firms that have just started production and are repaying their costs - this is where problems emerge," Sukhyar said.

He noted that the government would not provide special assistance.

Coal prices could take up to two years to recover, he said.

The move - expected to increase nontax revenue from coal and minerals to Rp 52.2 trillion ($4.05 billion) in 2015 from Rp 35.4 trillion in 2014 - is not intended to boost revenues but to promote economic growth, Sukhyar said.

Indonesia hopes by 2019 to reduce coal production to 400 million tons a year and increase domestic consumption to around 190 million tons from around 90 million tons this year, he said.

According to the Indonesian Coal mining Association (CMA), the royalty hike is part of a broader tightening central government controls on the sector after 10 percent to 15 percent of miners. were found in breach of rules including tax and royalty payments.

"The government wants to follow the KPKs advice and address this problem," ICMA executive director Supriatna Sunah told Reuters, referring to the Corruption Eradication Commission.

But the association says the rules could backfire and has asked government to postpone them until coal prices climb above $80 per ton from around $72 at present.

"A lot of our members entered [the market] in 2010 and 2011 when prices were high. They already have debts. These smaller firms are finding this hard to take."

 Source : JakartaGlobe, February 25, 2015

Terakhir Diperbaharui ( Jumat, 27 Februari 2015 08:05 )

Bupati Ancam Setop Newmont

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Dengan untung Rp 20 triliun, Newmont hanya memberikan royalti Rp 70 miliar.

MATARAM. Bupati Sumbawa Barat KH Zulkifli Muhadli mengancam akan menutup seluruh pengapalan produk PT Newmont Nusa Tenggara jika perusahaan tambang asal Amerika Serikat itu tidak membangun smelter di Sumbawa Barat.

"Saya akan perintahkan untuk pasang palang supaya tidak ada kapal yang keluar masuk kalau smelter itu tidak dibangun di Sumbawa Barat. Ucapan saya ini serius dan tidak dibuat-buat," kata Zulkifli menegaskan di sela-sela penandatangan nota kesepaHAMan kepala daerah dan forum PPID se-Nusa Tenggara Barat di Mataram, Selasa (24/2).

Selama ini, PT Newmont Nusa Tenggara (NNT) menghasilkan keuntungan hingga Rp 20 triliun per tahun dari hasil mengambil kekayaan Kabupaten Sumbawa Barat. Sementara, masyarakat daerah itu memperoleh royalti Rp 70 miliar per tahun. "Itu artinya, rakyat membutuhkan waktu 300 tahun lagi baru bisa mendapatkan Rp 20 triliun seperti yang diperoleh Newmont dalam setahun. Coba dibayangkan saja, kita ini daerah penghasil, tetapi yang diperoleh hanya sedikit," katanya.

Dia menjelaskan, pemerintah dan masyarakat Sumbawa Barat tidak melarang Newmont beraktivitas di daerah itu. Hanya, tutur Zulkifli, Newmont harus tahu diri dengan memberikan kompensasi pembangunan smelter di Sumbawa Barat. Jika smelter berada di lokasi tambang, ujarnya, kesempatan bekerja di daerah semakin besar dengan kehadiran pabrik pengolahan konsentrat tersebut.

"Adanya smelter akan memberikan nilai tambah bagi masyarakat sekitar dan pemerintah daerah, bukan justru kita yang memberikan nilai tambah bagi daerah lain," ujarnya. Meski demikian, pihaknya tidak menampik sudah berkomunikasi dengan PT NNT terkait persoalan tersebut. Dalam komunikasi itu, ujarnya, Newmont berdalih sudah menjalin kerja sama dengan PT Freeport untuk membangun smelter di Gresik, Jawa Timur.

"Kita tahu Freeport sudah membatalkan membangun smelter di daerah lain, melainkan akan membangun di Papua. Kalau sudah begitu, semestinya Newmont juga membangun smelter di KSB," katanya menimpali. Oleh karena itu, dia menegaskan, tidak ada alasan bagi Newmont untuk tidak membangun smelter. Mengingat, Newmont berstatus sebagai perusahaan besar yang sudah lama melakukan aktivitas Pertambangan dengan keuntungan besar.

Desakan serupa sempat disuarakan Wakil Gubernur NTB H MuHAMmad Amin. Wagub meminta PT NNT membangun smelter di lokasi tambang Batu Hijau Sumbawa Barat. "Wajib hukumnya bagi Newmont untuk membangun smelter di lokasi tambang. Bukan justru jauh-jauh di tempat lain."

Wagub beralasan, secara teknis dan finansial, PT NTT seharusnya memiliki kemampuan untuk membangun pabrik pengolahan konsentrat di Batu Hijau. Dia menjelaskan, Newmont telah berkomitmen akan menyetorkan uang jaminan sebesar 25 juta dolar AS ke pemerintah untuk pembangunan smelter, tetapi lokasinya di Gresik, Jawa Timur.

"Tetapi kenapa di tempat lain? Semestinya, komitmen pembangunan smelter harus ada di mulut tambang, yakni di Sumbawa Barat NTB, bukan justru diberikan ke daerah lain," kata Amin menyesalkan. Jika pembangunan smelter tetap dipaksakan dibangun di daerah lain, Wagub menjelaskan, NTB sebagai daerah penghasil tidak akan mendapatkan nilai tambah. antara ed a syalaby ichsan

 Sumber : Republika, 25 Februari 2015

Terakhir Diperbaharui ( Jumat, 27 Februari 2015 08:03 )

Newmont To Consider Acquisitions Even As It Reduces Debt

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Newmont mining Corp., the largest US gold producer, said it will consider acquisitions as well as the expansion of existing operations.

Like some of its biggest competitors, Newmont is focusing on its most efficient mines following a decline in the gold price. The company has sold about US$1.4 billion of assets in the past two years and is building a mine in Suriname. Still, it won’t rule out buying low-cost and long-life mines in safe jurisdictions, Chief Executive Officer Gary Goldberg said.

"Were always looking to improve our portfolio," he said Monday in an interview in Hollywood, Florida, where he was attending the BMO Global Metals mining conference. "we’ve got a great organic pipeline but also it doesn’t hurt to just look around."

While Goldberg declined to comment on specific assets Newmont would consider buying, he said the 50 percent of the Kalgoorlie Super Pit mine that Newmont doesn’t own would "fit in" with some of his acquisition criteria.

Barrick Gold Corp., the world’s largest gold miner, is the other Super Pit owner. That stake would be Barrick’s last remaining Australian asset if it offloads the Cowal mine, the sale of which was announced last week.

Merger talks between Barrick and Newmont broke down last April. Asked about the prospects for a resumption of the negotiations, the Newmont CEO said his company is focused on its own operations. As well as the Suriname mine, Newmont company is due to decide this year whether to proceed with the development of projects in Nevada, Ghana and Australia.

Goldberg also said Newmont isn’t actively looking to sell any more mines, although it would consider offers.

Despite the spending cuts of recent years, he said the real test will come when metal prices start to rise again.

"When prices go up, people have short memories, both miners and investors," he said. "we’ve got to deliver what we said we were going to do, don’t start overpaying for acquisitions, keep shareholder value at the forefront."

Newmont is bullish in the medium to long term on gold, although prices will probably stay volatile in the short term, Goldberg said. The company has budgeted for a flat, Sl,200-an-ounce gold price for the next three years. In London spot trading on Monday, gold was at $1,191 to $1,210 an ounce.

"That’s the place I feel I’m a lot better positioned," Goldberg said. "We don’t have to sit and hope for the gold price to recover as the strategy."

Newmont earlier reported fourth-quarter earnings that beat analysts’ estimates after costs fell more than expected.

Net income was $15 million, or 3 cents a share, compared with a loss of $1.19 billion, or $2.38, a year earlier, Greenwood Village, Colorado-based Newmont said Thursday in a statement. Earnings excluding one-time items were 17 cents a share, exceeding the 12-cent average of 18 estimates compiled by Bloomberg. Sales fell to $2.02 billion from $2.19 billion, more than the $1.8 billion average estimate.

Newmont, which has mines in the Americas, the Asia-Pacific region and Africa, is trying to reduce costs and prioritize spending as gold trades more than 35 percent below its 2011 peak. The company is expanding operations in Nevada and New Zealand and started building a new, lower-cost mine in Suriname last year.

Newmont’s so-called costs applicable to sales averaged $631 an ounce of gold in the fourth quarter, compared with $766 a year earlier and the $709.20 average of six estimates compiled by Bloomberg. Fourth-quarter gold output declined to 1.26 million ounces, compared with 1.45 million a year earlier and the 1.2 million average of six estimates.

Source : The Jakarta Post, February 25, 2015

Terakhir Diperbaharui ( Jumat, 27 Februari 2015 07:57 )

Freeport Biayai Smelter Tembaga Nasional US$ 2,3 M

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Rangga Prakoso

JAKARTA. Kementerian Energi dan Sumber Daya mineral (ESDM) menyatakan PT Freeport Indonesia akan membiayai dan membangun fasilitas pengolahan dan pemurnian mineral (smelter) Tembaga nasional. Adapun investasi smelter itu mencapai US$ 2,3 miliar.

"Freeport yang berkeinginan membiayai pembangunan smelter. Freeport yang jadi legal entity," kata Direktur Jenderal mineral dan batu bara Kementerian ESDM R. Sukhyar di Jakarta, Selasa (24/2).

Smelter Tembaga nasional digagas oleh pemerintah menyusul pembangunan smelter Tembaga di Papua. Pasalnya saat ini sudah ada PT Smelting dengan kapasitas 1,2 juta ton konsentrat Tembaga dan pada 2021 smelter di Papua yang memiliki kapasitas 900 ribu ton konsentrat Tembaga. Smelter Tembaga nasional diperlukan dalam menjamin ketersediaan pasokan konsentrat bagi seluruh smelter.

Empat pemegang Kontrak Karya Tembaga dikumpulkan untuk membahas smelter Tembaga nasional. Keempat KK itu yakni Freeport Indonesia, PT Newmont Nusa Tenggara, PT Gorontalo mineral dan PT Kalimantan Surya Kencana.

Dengan adanya kepastian pembiayaan oleh Freeport, lanjut Sukhyar, maka ketiga KK lainnya akan memasok konsentrat Tembaga ke smelter tersebut. Namun Sukhyar menyatakan belum ada kepastian berapa banyak konsentrat yang akan dipasok oleh ketiga KK tersebut.

Sukhyar menjelaskan, smelter Tembaga nasional itu berada di Gresik, Jawa Timur. Lokasinya sama dengan lahan yang telah disewa oleh Freeport. Lahan seluas 80 hektare (ha) itu merupakan milik PT Petrokimia Gresik. Freeport dan Petrokimia telah menandatangani kesepakatan kerja sama itu pada Januari 2015.

Dia menuturkan smelter Tembaga nasional memiliki kapasitas 2 juta ton konsentrat Tembaga atau sama dengan kapasitas yang akan dibangun oleh Freeport Sukhyar mengatakan, pihaknya akan meminta Freeport segera menyampaikan rencana pembangunan smelter tersebut Adapun rencana yang dibutuhkan itu antara lain analisa dampak lingkungan (amdal), teknologi yang digunakan serta tahapan pembangunan.

Dia menyebut rencana pembangunan itu diperlukan guna memastikan smelter tersebut bisa terwujud. "Jumat ini kami minta Freeport menyampaikan," ujarnya.

 Sumber : Investor Daily, 25 Februari 2015

Terakhir Diperbaharui ( Jumat, 27 Februari 2015 07:55 )