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Monday, 29 June 09
INDONESIA PLANS 20 PCT FOREIGN MINING SALE LAW
 Indonesia plans to require foreign investors in mining firms to gradually divest shares starting from the fifth year of commercial production, but may relax this if no buyers are found, an official said on Monday.
A new mining law passed in December requires foreign investors to sell shares to either the government, state-owned enterprises, and/or a local private entity.
In a draft regulation to the law, the government has proposed that foreign investors would have to gradually sell 20 percent after the fifth year of commercial production, Bambang Gatot Ariyono, director of coal and mining at the energy ministry, said.
"Each year, foreign shareholders will sell 5 percent and if they fail to do so, it will be accumulated in the following year," Ariyono told reporters at a seminar on the new law.
"We proposed the (20 percent) figure since it balances the interests of investors and the government," he said, adding the regulation would not apply to mining projects where the life span was less than five years.
The previous mining law, which dates from 1967, did not require foreign firms to divest although in some cases foreign mining firms were required under their contract to sell shares.
The issue has led to several disputes involving global firms.
PT Newmont Nusa Tenggara (NNT), a unit of Newmont Mining Corp, which operates the Batu Hijau copper and gold mine in Sumbawa, was ordered in April to sell part of its stake to the government after an arbitration ruling following a prolonged dispute.
In 2003, Rio Tinto and BP were also embroiled in a long legal battle over the sale of a stake in PT Kaltim Prima Coal (KPC).
Priyo Pribadi Soemarno, executive director of the Indonesian Mining Association, which represents foreign and local mining interests, said the 20 percent figure was acceptable.
"But it needs to clearly set out how to determine share prices, the source of funds and the local investors that are eligible to buy the shares," he added.
Analysts have warned that the new divestment rule may stifle foreign investment if it did not address key issues such as finding local buyers, which is an obstacle for foreign shareholders when trying to meet divestment regulations.
Ariyono said the new rule would not apply a penalty to miners who were unable to find buyers, although the foreign firm would still be obliged to carry out a sale when a buyer was found.
"Investors must carry out divestment until it finds a buyer but there won't be any risk of default," he said, adding that the rule would be applied flexibly to remain attractive to investors.
Foreign investors, who have a local partner owning more than 20 percent, would be exempted from the obligation, Ariyono added.
Aviliani, an economist a local thinktank INDEF, said allowing foreign investors to list shares in their mining project on the stock exchange was a possible option to avoid such conflict.
"The government does not have to buy the shares, they can go public. It will attract people to invest because the process is more transparent," said Aviliani, who uses one name like many Indonesians.
This 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.
Source: Reuters (http://www.reuters.com/article/rbssIndustryMaterialsUtilitiesNews/idUSJAK48641220090629?sp=true)
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Thursday, 09 July 09
GARDA LISTS SHARES IN LOCAL BOURSE
Local coal company PT Garda Tujuh Buana officially listed its shares in the Indonesia Stock Exchange (IDX).
The listing followed the company's p ...
Thursday, 09 July 09
COAL AND OIL GROUP TO INVEST $300 MN TO BUY SHIPS AND ACQUIRE COAL MINE
Coal & Oil Group is planning to invest around $300 million (around Rs 1,500 crore) to buy new ships and to acquire coal mines. The company is pl ...
Thursday, 09 July 09
NO TRADE ON AUSTRALIA'S ASX COAL FUTURES DEBUT
*ASX's deliverable thermal coal futures debut without trade
*ASX says futures could present new arbitrage opportunities
The debut of Australia ...
Wednesday, 08 July 09
GERMAN COAL PRODUCTION DECREASED BY 31% TO ROUND 3.4 MILLION TON IN 1Q 2009 - COAL IMPORTERS ASSOCIATION, HAMBURG
COALspot.com (Germany):
World Coal Market
According to analysis of VEREIN DER KOHLENIMPORTEURE E.V. , On a quantity basis the s ...
Wednesday, 08 July 09
HUADIAN POWER BUYS INTO COAL MINERS
Huadian Power International Corporation - China's largest independent power producerCannounced Tuesday in a filing to the Shanghai Stock Exchange ...
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- SMC Global Power, Philippines
- Minerals Council of Australia
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- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
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- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
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- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
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- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
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- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
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- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Australian Coal Association
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Parliament of New Zealand
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
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