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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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Friday, 12 June 09
THERMAL COAL PRICE REMAINS STABLE IN SHANXI - STEEL GURU
It is reported that coming into June, no major changes are seen in coal supply-demand relations in Shanxi province. Statistics of Qinhuangdao port, ...
Thursday, 11 June 09
PT NALCO PLANS TO CONSTRUCT COAL-FIRED POWER PLANT IN SOUTH SUMATRA - ENERGY BUSINESS REVIEW
PT Nalco (National Aluminium Company Limited), an Indian-based company, plans to construct a coal-fired power plant in South Sumatra. The company in ...
Thursday, 11 June 09
COAL PRODUCERS TO SEE BOOST IN DEMAND FROM ASIA PACIFIC - JAKARTA POST
The Jakarta Post reported that, at the recent 15th Coaltrans conference in Bali, we noted concerns related to rising oil prices at a faster pace tha ...
Wednesday, 10 June 09
BHP TO CUT 450 JOBS AT INDONESIAN COAL PROJECT - REUTERS
Reuters reported that, BHP Billiton Ltd will lay off all 450 workers at its Indonesian coal project after deciding not to go ahead with the pr ...
Monday, 08 June 09
PTC INDIA TO ACQUIRE COAL MINES IN AUSTRALIA, INDONESIA - PTI NEWS
PTI reported that, State-owned Power Trading Corp today said it would acquire coal properties overseas and has identified mines in Australia and Ind ...
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- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- The University of Queensland
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Central Electricity Authority - India
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
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