We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Monday, 27 April 09
INDONESIA MINING RULES MAY DETER INVESTORS-OFFICIALS - REUTERS
Indonesia's rules on foreign divestment of mining projects must be revised to address issues such as finding buyers if Southeast Asia's biggest economy is to attract new investment in the sector, industry officials said.
The issue of divestment, whereby foreign investors are required to sell down their stakes in local units, has led to several disputes involving global players.
A local unit of Newmont Mining Corp (NEM.N) is currently involved in an arbitration case over share divestment. In 2003, Rio Tinto (RIO.AX) and BP (BP.L) were embroiled in a long legal battle over the sale of a stake in PT Kaltim Prima Coal (KPC)
A new mining law passed in December requires foreign investors to divest shares to either the government, state-owned enterprises, and/or a local private entity after the fifth year of commercial production.
The previous mining law, dating from 1967, did not include this requirement. However, some mining companies, including PT Newmont Nusa Tenggara (NNT), were required to divest some of their shares to the government and local investors according to the terms of their contract of works with the government.
"The main concern for investors is the divestiture process that KPC and Newmont experienced was bad, because the provision in the contract of works was not well drafted," said Bob Parsons, an independent mining consultant.
"The divestiture provision will discourage foreign investment because it's against international business practices," he added.
The new mining law promises more certainty for investors, but also includes some contentious issues, with contracts of work replaced by shorter-term mining permits.
Priyo Pribadi Soemarno, executive director of the Indonesian Mining Association, said the five-year divestiture period was too short.
"Mining is a long-term business and is financed through loans. They need time to reach break-even point, repay the loan before starting to sell their shares, and five years is not sufficient," Soemarno said.
"We are not against divestiture. But it should not make it difficult for foreign investors to do it."
The association warns that mining investment in Indonesia may drop below $1 billion this year, adding that there may be no fresh projects as metal prices fall and miners await details of the new mining bill including the divestiture provision.
The government is more upbeat, saying mining and geothermal investment could hit $2.24 billion, up from $1.6 billion in 2008.
GOING PUBLIC?
One of the main obstacles for a foreign investor is finding a buyer, as shown by Newmont's experience with its unit, NNT, which operates the Batu Hijau copper and gold mine in Sumbawa.
Under its contract of work, Newmont must sell 51 percent of its shares in the unit to local investors, with the finance ministry having first right of refusal on all the share sales.
The Indonesian authorities said Newmont had not sold its shares quickly enough, even though the finance ministry did not take up the offer to buy the shares because of limited funds and other spending priorities, leading to a dispute.
An arbitration court ruled earlier this month that Newmont must sell a 17 percent stake to the government within 180 days.
"It is easy for the law to mandate companies to sell their shares but when there is no buyer, what should they do?" said Parsons. "The regulations should anticipate various scenarios."
One solution, analysts suggest, is to allow foreign investors to list shares in the local venture on the stock exchange.
That strategy was used by PT International Nickel Indonesia Tbk -- in which Brazil's Vale Inco Ltd has a 60.8 percent stake -- when it sold a 20 percent stake in an initial public offering in 1990.
The government is now drafting the implementing regulations for the new law, including regulations on divestiture.
"We are discussing various options, including whether to release miners from the obligation to divest their shares if they cannot find buyers within a certain period," said an energy and mines ministry official, who asked not to be identified by name.
Source: http://uk.reuters.com/article/rbssIndustryMaterialsUtilitiesNews/idUKJAK50340220090427?sp=true
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Saturday, 02 May 09
BUMI'S FIRST-QUARTER PROFIT RISES 21% ON COAL PRICE - BLOOMBERG
PT BUMI RESOURCES, Asia’s biggest exporter of power-station coal, said first-quarter profit rose 21 percent after it earned higher prices for ...
Saturday, 02 May 09
COAL PRICES TO RISE ON CHINESE SUPPLY, INDIAN DEMAND, UBS SAYS
Peter Hickson, an analyst with UBS AG in London, comments on prices for thermal coal, burned to generate power. He commented in a report today.
& ...
Friday, 01 May 09
DEUTSCHE, BECKKETT CLAIMING ADARO WIN - THE JAKARTA GLOBE
Both Deutsche Bank AG and Beckkett, an investment firm controlled by Indonesian tycoon Sukanto Tanoto, claimed victory on Tuesday after Singapore&rs ...
Thursday, 30 April 09
SAN MIGUEL IN TALKS TO BUY STAKE IN ADARO - REUTERS
San Miguel Corp is in talks to buy a stake worth about $500 million in Adaro Energy , Indonesia's largest coal producer by market value, the Philip ...
Wednesday, 29 April 09
BAYAN READY TO OPERATE WORLD'S LARGEST COAL QUALITY IMPROVEMENT FACILITY - MAJALAH TAMBANG
PT. Bayan Resources Tbk. (hereinafter referred to as Bayan), an Indonesian coal manufacturer, announced that they are ready to operate the world's ...
|
|
|
Showing 6776 to 6780 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Australian Coal Association
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Minerals Council of Australia
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
|
| |
| |
|
