Indonesian Mining Association


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Industri Lokal Bidik US$ 500 Juta Belanja Freeport

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Oleh Damiana N Simanjuntak

JAKARTA. Industri lokal ditargetkan mampu menyerap US$ 500 juta (Rp 5,86 triliun) dari belanja pengadaan barang PT Freeport Indonesia pada tahun 2015. Angka itu adalah 30-40% dari total belanja pengadaan barang Freeport yang biasanya masih didatangkan dari impor.

"Selama ini, procurement (pengadaan) barang di Freeport itu hampir semuanya diimpor. Karena itu, dalam perjanjian negosiasi yang diteken pemerintah dan Freeport kemarin, salah satu poinnya adalah mulai mengalihkan pengadaan itu dari dalam negeri. Setidaknya untuk tahap awal, saya maunya 3040% dari total belanja pengadaan mereka dipasok dari sini," kata Menteri Perindustrian (Menperin) MS Hidayat usai membuka Pameran Industri Kosmetik dan Jamu di Jakarta, Selasa (26/8).

Hidayat mengungkapkan, Freeport menghabiskan sekitar US$ 1,3 miliar per tahun untuk belanja pengadaan barang, dan sebagian besar di antaranya masih dipasok dari impor. Perusahaan ini hanya memanfaatkan sekitar 10-15% produk dari dalam negeri untuk kebutuhan belanja tersebut. Menurut dia, berdasarkan perjanjian Freeport dengan pemerintah Indonesia, perusahaan tersebut bersedia mulai mengalihkan pengadaan barangnya dari dalam negeri. Untuk itu, Kementerian Perindustrian (Kemenperin) sedang menyusun daftar produk yang bisa dipenuhi industri lokal, mencakup peralatan produksi, peralatan bidang teknologi, hingga kebutuhan konsumsi.

"Daftar itu akan memuat kebutuhan mereka sepanjang tahun, dan mana saja yang bisa dibuat di sini. Selama bisa diproduksi di Indonesia, kita usahakan supaya dibeli dari dalam negeri. Saya harap pembahasan bisa selesai segera dan ditetapkan dalam kesepakatan pengadaan barang sebelum Oktober 2014. Ini akan menjadi legacy Kementerian Perindustrian dalam periode kabinet sekarang," kata Hidayat.

Dia mengatakan, kesepakatan pengadaan barang Freeport tersebut, akan menjadi referensi bagi pemerintah untuk mewajibkan perusahaan yang beroperasi di Indonesia agar mengutamakan penggunaan produk dalam negeri. "Kalau ini berhasil, kami bisa memaksa yang lain," tambah dia.

Hidayat menegaskan, penggunaan produk dalam negeri sebenarnya bisa dipaksakan dalam pengadaan kebutuhan barang perusahaan-perusahaan milik negara atau proyek-proyek yang menggunakan APBN dan APBD. Dari situ, pemerintah akan memiliki referensi untuk membuat kesepakatan pengadaan kebutuhan barang perusahaan swasta atau investor asing yang ada di sini.

"Tapi, memaksa perusahaan swasta tentu tidak bisa seperti yang diterapkan kepada institusi yang menggunakan APBN dan APBD. Sebab, keputusan perusahaan swasta kan melalui rapat umum pemegang saham (RUPS) dulu. Dengan Freeport ini kan sudah ada perjanjian yang diteken bersama. Jadi, kalau Freeport saja mau, mestinya perusahaan swasta atau investor asing yang ada di sini juga mau," jelas Hidayat.

Sebelumnya Hidayat mengatakan, pelaksanaan Program Peningkatan Penggunaan Produk Dalam Negeri (P3DN) bakal diwajibkan dengan pengenaan sanksi. Selama ini, pelaksanaan P3DN tidak optimal karena tidak ada sanksi atau hukuman.

Padahal, kata dia, penggunaan barang dan jasa hasil produksi Indonesia oleh kementerian dan lembaga negara diyakini bisa menopang sektor industri nasional. "Pelaksanaan P3DN harus ditingkatkan intensitasnya. Harus ada sanksi," ujar Hidayat.

Selama ini, menurut dia, Kemenperin terus menerima kritik karena tidak berani memberlakukan sanksi. "Misalnya, ketika kami menginstruksikan penggunaan barang dalam negeri untuk pengadaan peralatan pemerintahan, tetapi pada akhirnya tidak dilaksanakan dengan berbagai alasan. Itu karena tidak ada sanksi hukum yang diberikan. Itu harus dipikirkan," kata Hidayat.

Hidayat mengungkapkan, pihaknya sedang merancang aturan turunan yang membahas P3DN, yakni Rancangan Peraturan Pemerintah (RPP) tentang pemberdayaan industri yang membahas pengaturan dan pelaksanaan P3DN secara wajib. Rancangan aturan itu dibuat sesuai ketentuan dalam Undang-Undang (UU) No 3/2014 tentang Perindustrian.

 Sumber : Investor Daily, 27 Agustus 2014

Terakhir Diperbaharui ( Jumat, 29 Agustus 2014 08:06 )
 

Newmont Drops Case vs. Indonesia

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Newmont Mining has withdrawn its international arbitration filing against the Indonesian government, the industry minister said on Tuesday, in a possible sign of a breakthrough over its seven-month dispute that halted exports.

Newmont’s Indonesian chief executive Mardono Hadianto said the mining giant had reached a "constructive solution" over new mining rules, and expects to resume production at its copper mine soon. He declined to give additional details and a company spokesman could not be immediately reached.

US-based Newmont, which declared force majeure at its Batu Hijau copper mine in June and then filed for arbitration in July, is in dispute with the Indonesian government over an export tax imposed in January that the US-based miner says conflicts with its mining contract.

"I heard Newmont’s lawyer has withdrawn the case a few days ago," Indonesia’s Industry Minister M.S. Hidayat told Reuters, adding that investment board chief Mahendra Siregar had confirmed the news.

Indonesia’s Chief Economics Minister Chairul Tanjung is expected to make an announcement on Newmont arbitration on Wednesday, said Susyanto, the director of the law bureau for the mines ministry.

The government has yet to receive an official letter from Newmont, said Sukhyar, director-general of coal and minerals at the mining ministry, saying Newmont still needed to negotiate a Memorandum of Understanding before exports could be resumed.

Sukhyar added that Newmont had agreed to pay an export tax but further negotiations were needed over royalties.

Before the new export rules, Newmont forecast total copper in concentrate output would be between 110,000 and 125,000 metric tons from its Indonesian mine this year.

Freeport-McMoRan’s Indonesian unit resumed exports earlier this month after clinching a deal and signing an MoU with the government in July.

Both Freeport and Newmont, which account for 97 percent of Indonesia’s copper output, had previously argued they should be exempt from the tax, which kicks in at 25 percent and rises to 60 percent in the second half of 2016, before a total concentrate export ban in 2017.

Freeport agreed to a much reduced export tax rate of 7.5 percent, which will fall further depending on progress in the construction of a domestic copper smelter.

The controversial export tax was part of government moves to force all miners to develop local mineral processing facilities, which would bring bigger returns for the government from Indonesia’s mineral resources.

Mining industry executives in Indonesia have balked at the idea of developing downstream industries and building smelters, citing a lack of power and infrastructure in remote areas where mines are often located. Michael Taylor Yayat Supriatna

 Source : JakartaGlobe, August 27, 2014

Terakhir Diperbaharui ( Jumat, 29 Agustus 2014 08:01 )
 

Mining Contract Renegotiations Hinge on Six Major Issues

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Raras Cahyafitri

Energy and Mineral Resources Ministry minerals and coal Director General R. Sukhyar inherited a huge task when he was appointed to the job in December 2013. Executing regulations requiring an export ban on raw mineral ore and renegotiating mining contracts of work (CoW) with the industry’s big boys were among the tasks he faced. The Jakarta Post’s Raras Cahyafitri recently talked with Sukyhar on his recent completion of a memorandum of understanding (MoU) with PT Freeport Indonesia, a unit of US-based Freeport McMoRan Copper & Gold Inc., for its upcoming contract amendment, and on his future hopes for the new administration. Here are excerpts of the interview:

Question: What are the benefits for Indonesia in the MoU with Freeport?

Answer: Under Law No. 4/2009 [on mining and coal], it is clear that all contract holders, both coal CoW and PKP2B [coal mining business permits], must adjust.

We respect their contracts until they expire. However, it is a must to have them adjusted, and the question now is what kind of items [in the contract] require adjustment.

The deputy minister [of energy and mineral resources] has initiated the terms of reference for the adjustment that covers six issues; mining size, operation continuity, domestic processing and refining, divestment, state income as well as the use of local content. In the context of state income, there should be an increase in what the state is receiving. This is the first benefit in the renegotiation.

We also have to refer to the 1945 Constitution, which states that all resources in Indonesia create the utmost benefit for the people. It means that all proceeds from mining activities must be enjoyed by the country and its people. The renegotiation has included [share] divestment, which represents the nation’s participation. This is the second benefit.

The third benefit is related to the mineral refining process. Apart from higher economic value, there will also be an increase in the intake of local resources, particularly human resources, and developments in technology independence. We cannot let the nation abandon intelligence and wisdom in utilizing its resources.

Why should there be a renegotiation if the law can be directly applied when the companies’ contracts expire?

Indeed, the companies should obviously adjust to the law after the contracts expire. However, there are questions on what items must be adjusted, how to adjust them, the extent of adjustment, etc. These matters must be presented to the companies.

Under the 2009 Mining and Coal Law, we no longer acknowledge mining contracts except for existing ones that have yet to expire. In cases where mining contracts are extended, it will be in the form of licenses, either IUP [commercial mining permits] or IUPK [special mining licenses].

The renegotiation is also needed as companies will want to adjust to new government policies. We don’t want to create difficulties for them to operate here as we invited them here as required by the 1967 law [the previous Mining Law].

What is making the renegotiations progress faster now?

This is a process. In the early days after the Mining Law was passed, people talked too much about its articles and not enough about how to implement it.

In the end, five years after that, everyone had to comply with the deadline set by the law for mining companies to have their refining facilities or risk being unable to export their ores. Since the middle of 2013, the renegotiation has been better managed as the government has formulated what items must be renegotiated.

Previously, perhaps, there was confusion on what to follow up on. The Mining Law is very firm, stipulating that all adjustments must be completed one year after the law was passed. It means that the renegotiation should have been completed in 2010.

What is the most difficult part in the renegotiation?

Momentum was generated after the issuance of Government Regulation No. 1/2014 [partly stating that semi-finished minerals with certain purity levels could continue to be exported by paying export taxes].

Previously, we had seen the government try to bargain. On Dec. 5, 2013, the government proposed allowing companies committed to building smelters to continue selling ores [the proposal was raised during a session at the House of Representatives’ Commission VII on energy and natural mineral resources. The commission rejected the proposal].

Regarding renegotiations, we had no previous reference of what had to be adjusted until the six issues were proposed.

The next difficult part was probably the approach. When there’s adjustments to existing rules, business players are usually confused.

Therefore, there should be an approach to sit together and deliver the messages of the adjustment. If we didn’t sit together, we wouldn’t have known the impact of the adjustment on their businesses.

Moreover, companies currently in production enjoy the comfort and the profits from their activities. When we impose a new fiscal policy, it will disturb them. Because of this, the discussion usually takes a long time. We have to introduce the policy and they calculate their financial ability. We then evaluate it and so on.

During the renegotiations, the most delicate issues revolve around the need for higher state revenue, divestment and continuity of operations.

How is the renegotiation with PT Newmont Nusa Tenggara after it filed an international arbitration against the government?

It’s totally stalled. The government is expecting the company will withdraw the appeal.

Freeport said it may sue the government in an arbitration. However, Newmont did it while Freeport did not and it managed to secure a deal with the government. What made the process different?

I don’t think Freeport had the courage to file an arbitration. It’s just impossible. Everyone in Freeport’s business will always enjoy the huge proceeds as the potential [of the Grasberg mine] is very huge. Even though we’ve issued it with a new fiscal burden, the company is still making profit.

Unlike Freeport, Newmont’s resources here are depleting. It needs to open a new mining site, meaning it has to invest more. Newmont’s position is more difficult. Freeport fares better than Newmont in financial capacity. When we plan a new fiscal policy, Newmont needs a very long time to calculate the risk.

Newmont’s contract is set to expire in the long term [in 2030]. It actually doesn’t have to worry about it and can just open the new site. We are disappointed that it decided to go for arbitration while renegotiations were there. Perhaps Newmont perceived that Freeport’s renegotiation journey was not easy. So Newmont seems to be in despair. But this is Indonesia, a civilized nation. The government has never had any intention to bankrupt a company.

What are your suggestions for the new government?

Although we have concluded MoUs with a number of miners, the contract amendments of the companies will be handled by the new administration. They will be signed by the new minister. The next responsibility is to supervise all terms agreed in the MoUs. It is the new government’s right to say whether the companies have complied or not.

Can the new government adjust matters it doesn’t agree with in the MoU?

Yes, if there are points still not agreed under the MoUs or new things that need to be inserted, they can settle the matters in the amendment. However, the six issues are the principal ones mandated by the Mining Law.

 Source : The Jakarta Post, August 27, 2014

Terakhir Diperbaharui ( Jumat, 29 Agustus 2014 07:59 )
 

Bad Loans in Mining Almost Triple On Low Prices, Ore Ban

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Tassia Sipahutar

The fallout from a sustained decline in commodity prices and the government’s recent ban on raw mineral ore exports have caused non-performing loans (NPLs) in the mining sector to jump almost twofold in the first half of the year.

Loans that became hard for banks to collect in the mining sector rose to Rp 2.9 trillion (US$247.57 million) during the first six months of 2014 from Rp 1.08 trillion in the same period of last year, according to banking statistics published recently by Bank Indonesia (BI) and the Financial Services Authority (OJK).

The latest growth rate of NPLs was much higher than during the same period last year, when it rose by only 29.3 percent.

According to the statistics, joint-venture banks recorded the highest surge in NPLs of 586.6 percent, up almost seven times, followed by foreign-exchange commercial banks with 181.2 percent and state-owned banks with 92.6 percent.

Doddy Ariefianto, an economist at the Deposit Insurance Corporation (LPS), attributed the ballooning bad loans on the existing pressure on commodity prices amid soaring expenses.

“The outlook for the mining sector remains bleak because of the low international prices,” he said on Monday.

Thermal coal prices at Australia’s Newcastle port, for example, have continued to decline, standing at $73.66 per metric ton in July 2014 — the lowest since September 2009.

The Newcastle Index is used as a price benchmark for Indonesia, Asia’s biggest exporter of thermal coal for power plants.

According to the report, total outstanding loans for the mining sector stood at Rp 116.63 trillion in the first half, climbing 7 percent on a yearly basis. Lending grew by 17.3 percent in the same period of last year.

The Boston Consulting Group (BCG) highlighted the declining prices and soaring expenses in the mining sector in its latest report, Value Creation in Mining 2013: The Productivity Imperative.

It noted that commodity prices had fallen on average by 5 percent annually between 2009 and 2012.

Marc Schmidt of the Singapore-based BCG said rising costs were one of the reasons behind the drop in the financial performance of Indonesia’s mining companies.

Almost all Jakarta-listed miners are suffering from financial woes as a result of the business slowdown.

Coal miner PT Berau Coal Energy, for example, reported a net loss of $10.18 million in the first quarter of this year, which led to worries over its ability to pay its debts.

Berau now has $500 million guaranteed senior secured notes due to mature in 2017 and $450 million in bonds, issued by its subsidiary, Berau Capital Resources II Pte. Ltd.

Bank Mandiri chief economist Destry Damayanti said the escalating NPLs in the mining sector were expected, particularly after the ban on raw mineral ore exports was introduced in January.

Under the policy, miners are required to process their commodities in domestic smelters before exporting. While coal is exempted from the policy, the ban has particularly impacted producers of nickle, bauxite and copper.

Destry warned that the steep rise in NPLs was alarming, and suggested that banks needed to be very cautious when disbursing loans to the sector.

“However, the amount of loan funds channeled to miners is still relatively low, at around 3.4 percent of the overall outstanding loans already disbursed by banks,” she said.

Indonesian Mining Association vice chairman Tony Wenas projected that the mining sector would continue to suffer from the low prices and export ban in the coming months. “A policy to cap coal output may help improve coal prices, but the situation will still largely depend on global demand.”

 Source : The Jakarta Post, August 26, 2014

Terakhir Diperbaharui ( Kamis, 28 Agustus 2014 10:13 )
 
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