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, 25 April 09
KPC DEVELOPS EAST KALIMANTAN WITH GOVT - THE JAKARTA POST
Kaltim Prima Coal (KPC) focuses on several areas in its CSR projects to help the government increase the welfare of the community living around the ...
Friday, 24 April 09
NAPOCOR TO TENDER FOR 195,000 T COAL - ABS-CBNNEWS.COM
Top Philippine electricity producer National Power Corp. (Napocor) said on Friday it will hold a tender on May 20 to buy 195,000 tons of steam coal ...
Friday, 24 April 09
NTPC TO DELVE INTO CONTRACT MINING - ECONOMICTIMES
NTPC, India’s largest power producer, plans to cash in on its decades-old experience in handling coal mines by spinning off a separate u ...
Wednesday, 22 April 09
PROTECTED FORESTS FACING UNDERGROUND MINING THREAT - THE JAKARTA POST
The government is soon to issue a presidential regulation allowing mining companies to mine underground in protected forest areas, despite a recent ...
Tuesday, 21 April 09
MITRA RAJASA TO ACQUIRE TWO MINING COMPANIES - THE JAKARTA POST
PT Mitra Rajasa Tbk plans to acquire PT Realita Jaya Mandiri and PT Masindo Artha Resources in South Sumatra, which are worth around US$40 million.
...
|
|
|
Showing 6796 to 6800 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- PTC India Limited - India
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
|
| |
| |
|
