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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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- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
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