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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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Saturday, 15 May 10
THE AVERAGE CHARTER HIRE FOR CAPE REACHES US$ 49,931 PER DAY - VISTAAR SINGAPORE
COALspot.com: "The freight market was extremely buoyant this week with BDI almost up by 9 pct and the market was very firm in Feast/SE Asia sec ...
Saturday, 15 May 10
DRY BULK MARKET POSTS HEALTHY WEEKLY GAINS
The dry bulk market has reached new highs this week, the second consecutive solid one, with the industry’s benchmark, the Baltic Dry Index (BD ...
Friday, 14 May 10
JSW BUYS COAL MINES IN US, PRODUCTION STARTS IN SEPT
JSW Steel on Friday said it has completed $100 million acquisition of coking coal assets in the US and will start production from September to parti ...
Friday, 14 May 10
KANGAROO RESOURCES TO ACQUIRE INDONESIAN COAL PROJECTS - PROACTIVE INVESTORS
Proactive Investors reported that, Kangaroo Resources (ASX: KRL) is preparing to complete the acquisition of its five outstanding Indonesian coal pr ...
Thursday, 13 May 10
CHINA CONCERNS TO TEST RAW MINERALS - THE AUSTRALIAN
The Australian reported that, COMMODITY prices will remain volatile and drop from recent highs as China's appetite for raw materials softens. James ...
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- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
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