We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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)
If you believe an article violates your rights or the rights of others, please contact us.
|
|
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 ...
|
|
|
Showing 6636 to 6640 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
|
| |
| |
|
