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Wednesday, 18 May 11
OVERHAUL OF MINING LAW MAY DETER INVESTMENT, S&P SAYS - THE JAKARTA GLOBE
The Jakarta Globe, an Indonesian English language news paper reported that, A report by Standard & Poor’s Ratings Services that a regulatory overhaul of Indonesia’s mining industry would hurt companies’ performance received mixed reviews from industry players on Tuesday.
The report, “Indonesia’s Mining Law of 2009 and Subsequent Regulations: Unearthing the Impact,” explored how the law would affect companies in the country’s mining sector.
Credit analyst Xavier Jean said he did not anticipate any immediate implications for the rating of mining companies since Standard & Poor’s ratings already incorporated degrees of regulatory risk.
“Some regulatory provisions have direct implications for the revenue, profitability, capital expenditure and cash flow of mining companies in Indonesia,” Jean said. “Besides increasing operating uncertainty for Indonesian mining companies, we believe the new regulations may also make the industry less attractive to foreign investors.”
Increased operating costs, possible delays in awarding mining licenses because of decentralized decision-making and requirements for greater domestic processing were among the factors that could weight on profits.
He also said the regulatory environment was “still evolving, and the implementation of government regulations passed so far may differ somewhat from their original forms.”
Under the 2009 law, regional governments will issue mining licenses instead of the central government. It also reduced the lifespan of the new regulations to 20 years, down from 40 years in the previous law, and required miners to set aside 25 percent of their production for sale in Indonesia.
Bimo Budi Satriyo, corporate secretary of Aneka Tambang, Indonesia’s largest gold and nickel producer, said the law was an opportunity and a challenge.
“I think the regulation is good because the government does not want companies to only sell natural resources,” he said. “There will be added value for minerals, and in the end that will create a multiplier effect that can improve the economy within the region.”
Aneka Tambang already has a number of mineral processing projects in the works, Bimo continued, including a bauxite refinery in West Kalimantan and three smelters in South Sulawesi.
Bob Kamandanu, chairman of the Indonesian Coal Mining Association (APBI) and a commissioner of Berau Coal, said the shorter lifetime of the regulations created uncertainty.
“Coal mining is a long-term business. Twenty years is too short,” he said.
Sudharta, spokesman for state coal miner Perusahaan Tambang Batubara Bukit Asam, said he was confident the new law would not have any adverse effects on the company.
Source: The Jakarta Globe
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Friday, 02 July 10
MINERALS RESOURCE TAXATION IN AUSTRALIA - PRESS RELEASE
Press Release : Rio Tinto acknowledges the Australian Government’s announcement that the Resource Super Profits Tax (RSPT) proposal will be re ...
Thursday, 01 July 10
TATA POWER TO RAISE US$300 MILLION THROUGH ITS COAL SPVS TO FUND ADDITIONAL ACQUISITIONS AND / OR REDUCE OUTSTANDING DEBT
Stock Markets Review reported that, Tata Power, India’s largest private power player has signed an agreement to raise US$300 million in Bhira ...
Thursday, 01 July 10
HELLENIC SHIPPING NEWS POLL: THE BDI WILL STAY ABOVE 3,000 POINTS IN THE SECOND HALF OF 2010
When Hellenic Shipping News Worldwide prepared June’s poll asking readers about where do they think that the Baltic Dry Index (BDI) will range ...
Thursday, 01 July 10
PANAMAX MARKETS CONTINUE TO DROP IN ALL BASINS - FEARNLEYS
Handy
Atlantic rates continue to slide with little activity. Supras open in USG get low 30´s to Med and mid 40´s to FEast. Hmax/Supra ...
Wednesday, 30 June 10
PTBA TO SUPPLY ADDITIONAL 180 MLN TONS OF COAL TO PLN FOR 20 YEARS
COALspot.com: Indonesia's state-owned coal mining company PT Tambang Batubara Bukit Asam Tbk (PTBA) has entered into a new contract with state owne ...
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- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
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