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Wednesday, 07 March 12
INDONESIA TO LIMIT FOREIGN OWNERSHIP IN MINES TO 49 PERCENT WITHIN 10 YEARS OF PRODUCTION
COALspot.com - Foreign holders of mining licenses in Indonesia have to divert 51% of their stakes to Indonesian government or domestic entities within 10 years of starting production, according to a decree (PP 24/2012) signed by President of Indonesia on Feb. 21.
According to regulation, foreign holders of mining licenses are required to offer their first 20% stakes diversion to Indonesian party within a period no later than 90 (ninety) calendar days after 5 (five) years receipt of mining license (IUP operation and production).
Foreign mining license holders are required to offer their stakes to government of Indonesia, provincial government, local government district / city, state owned enterprises first prior to offer domestic private entities. According to regulations, the government, local government or state owned enterprises have to expressed interest at the latest within 60 (sixty) calendar days from the date of bidding.
In the event the government and the provincial government or local government district / city, state, and local enterprises are not interested to buy divested shares, then the shares can be offered to domestic private enterprises in a period of at least 30 (thirty) calendar days.
Domestic private enterprises have to express their interest at least within 30 (thirty) calendar days after the date of bidding. If domestic private enterprise have decided to buy the shares, then the payment and transfer of purchased shares has to be completed at the latest within 90 (ninety) calendar days after the date finalization of the purchase of shares.
However, If the divestment is not reached within the period stated in the regulation 24/2012, the diversion of shares can be made in the following year.
7th Year of production of completion or 6th years of receipt of IUP OP license, the foreign owners of mines are required to divert an another 10% or total 30% of total stakes and 8th years of production 7% stakes diversion, by 9th year of production another 7% and finally 10th years of production 51% of total stakes must hold by either Indonesian government, local government district / city, state enterprises, or national private entities.
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Wednesday, 07 March 12
3RD MOZAMBIQUE COAL CONFERENCE
3rd Mozambique Coal Conference
2-4 July 2012 | Joaquim Chissano International Conference Centre , Maputo, Mozambique
http://www.immevents.com/mo ...
Wednesday, 07 March 12
DRY BULK MARKET KEEPS UP TIMID REBOUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its rising momentum yesterday, rising for the eighth straight session, on the back of renewed demand for smaller bulk c ...
Wednesday, 07 March 12
BUKIT ASAM EYES 39% RISE IN COAL SALES - INSIDER STORIES
Insider Stories reported that, PT Bukit Asam Tbk is scouting a 39% increase in coal sales volume to 18.66 million tons this year from last year with ...
Wednesday, 07 March 12
PETROSEA SEALS US$188 MIO CONTRACT - INSIDER STORIES
Insider Stories reported that, coal mining contractor PT Petrosea Tbk has secured a US$188 million additional contract from its affiliated firm PT S ...
Monday, 05 March 12
SOUTHGOBI ANNOUNCES AGREEMENT TO SELL ITS THERMAL COAL TSAGAAN TOLGOI DEPOSIT FOR US$ 30 MILLION
SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) announced today an agreement to sell its thermal coal property, the Tsagaan Tolgoi Deposit to Modun Re ...
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- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Australian Coal Association
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Planning Commission, India
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- The University of Queensland
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- White Energy Company Limited
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
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