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Friday, 13 April 12
S&P CAUTIONS AGAINST NEW INDONESIAN MINING REGULATIONS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Investors may have expressed concerns about looming new mining regulations, but ratings agency Standard & Poor’s says it doubts the government will implement them strictly.
“Whether the government of Indonesia will follow up on its hard-line stance is still a question,” the ratings agency said in its latest report on mining.
However, S&P added that “our ratings on mining companies operating in Indonesia have long factored in the country’s evolving regulations. Therefore, our credit outlook on the sector remains stable.”
The government this year issued a series of controversial mining regulations, including plans for an ore export ban, higher royalties, a ceiling on foreign ownership of mining assets, a required upgrade in coal quality before export and so-called “contract of work” renegotiations.
“Not a week has passed without government officials calling for additional royalties, a review of ownership rules or a more equal redistribution of mineral wealth,” S&P said in the report.
Industry Minister M.S. Hidayat was on Thursday quoted by Reuters reiterating an earlier statement by his ministry that the government is studying a 25 percent tax on mining exports this year that will become a 50 percent tax in 2013.
S&P said that if the move is strictly implemented, it “would undeniably hurt Indonesian mining companies as well as international companies that have mining operations in Indonesia. It would raise the cost of doing business in the sector and lessen its attractiveness to investors.”
The ratings agency said that it believed “the government of Indonesia will take a pragmatic approach while implementing mining regulations, given the sector’s economic importance.”
Last year, the government received $6.5 billion in taxes and royalties from mining companies, constituting 5 percent of total government revenue.
Dileep Srivastava, the investor relations director at large coal miner Bumi Resources, expressed concern about the tax.
“If this is enacted, some of our metals and minor coal assets may be vulnerable,” he said.
“But it is premature to form any view yet.”
Source: The Jakarta Globe
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Thursday, 26 January 12
ABM INVESTAMA SEALS US$100 MIO CONTRACT - INSIDER STORIES
Insider Stories reported that, PT Reswara Minergi Hartama, a subsidary of PT ABM Investama Tbk (ABMM), has sealed a 2 million tons of coal export co ...
Thursday, 26 January 12
DRY BULK MARKETS DOWNFALL KNOWS NO LIMITS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s demise seems to have no visible end, as China’s Lunar Year Holidays continue this week, thus leaving demand with n ...
Wednesday, 25 January 12
CLEAN AND CLEAR MINING PERMITS TO BE COMPLETED END OF 2012 - BISNIS.COM
Bisnis.com reported that, the government plans to announce 700 mining permits with "clean and clear" status without overlapping on other p ...
Tuesday, 24 January 12
ANOTHER SEVERE DROP IN THE CAPESIZE - BRS
The lunar year celebrations and the high number of new building deliveries (more than 35 Capes so far in January as owners push 2011 deliveries into ...
Tuesday, 24 January 12
BUKIT ASAM FY11 NET PROFIT SURGES 50% - INSIDER STORIES
Insider Stories reported that, the state-controlled PT Bukit Asam Tbk (PTBA) estimated to book Rp3 trillion (approximately US$ 335,570,469) net prof ...
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- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
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