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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, 02 July 09
PETCOKE BOOMS AS CEMENT MAKERS TRY TO REPLACE COAL
* Cement makers led by Asia chase petcoke to replace coal
* Petcoke prices up $10/T Feb-Jun, set to rise further
* Domestic U.S. petcoke demand ma ...
Wednesday, 01 July 09
NEWCASTLE WEEKLY COAL EXPORTS RISE BY 12PCT
Bloomberg reported that Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, gained 12% last ...
Wednesday, 01 July 09
RS 6,000CR MMTC COAL IMPORT PLAN UNDER CLOUD
The plan of MMTC Ltd, a trading firm under the commerce ministry, to import coal worth Rs 6,000 crore has come under cloud, with the Central ...
Wednesday, 01 July 09
INDONESIAN FIRM BIDS FOR 130,000T COAL FOR NAPOCOR
Top Philippine electricity producer National Power Corp. (Napocor) said on Wednesday it received two bids from Indonesia's PT Trubaindo and its loc ...
Wednesday, 01 July 09
COAL PRICE INDEX TO BE LAUNCHED IN JULY
India will soon get a coal index to track the coal price movement in the country.
India's leading e-commerce company Mjunction Services Ltd will ...
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- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- The University of Queensland
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- Planning Commission, India
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- PTC India Limited - India
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