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
GOVERNMENT FINE TUNES MINING LAW
.jpg) The government is planning to require all foreign-owned mining companies to divest 20 percent of their businesses to local entities after five years of commercial production, officials meeting to discuss the new mining regulations revealed on Monday.
The compulsory divestment plan will affect all new mining concessions granted after December, when the 2008 Mining Law was passed. It was met with mixed reactions by the mining community.
Under Article 112 of the new law, the government requires foreign investors to begin selling their shares to either the government, state-owned companies, local-government-owned entities or Indonesian-owned private enterprises after the fifth year of commercial production.
The law requires companies to divest 20 percent of the shares in their local subsidiaries within four years, with targets of 5 percent stakes annually, said Bambang Gatot Ariyono, the director of coal and minerals at the Ministry of Energy and Mineral Resources, on Monday.
“On the ninth year of the foreign companies’ operations, they will have finished divesting a 20 percent stake,” he said.
“The divestment is aimed at increasing the [local] dividend paid on resources if state-owned or local government-owned companies purchase the stake.”
Although the government set the 20 percent divestment to be finished in the ninth year, it will be happy to extend the process if foreign companies have difficulty finding local buyers for the stake, Bambang said.
The regulation, which is part of a package of implementing regulations expected to come into law in August, is the first time an across-the-board rule on mining divestment has been passed, with previous divestment rules depending on the year, or generation, in which a mining contract was signed. It covers all mined commodities, including coal and precious metals.
The country’s old mining law of 1967, which was valid until last year, did not rule on divestment requirements.
However, mining companies that operate in Indonesia under fourth-generation contracts of work, including US mining subsidiary unit PT Newmont Nusa Tenggara, are required to divest a 51 percent stake to locally owned entities. Other generations are not similarly affected.
Bambang Setiawan, the director general of coal, minerals, and geothermal energy, said the regulation proposal was a political move in line with the country’s constitution, which states that all of the country’s natural resources belong to the state, with profits to be shared among the people. “We hope to improve public welfare, especially for people living near mines,” he said.
Martiono Hadianto, the president director of US-based Newmont Mining’s Indonesian unit, said that the new requirement could be difficult to implement, because the price of stakes in large foreign-owned companies would rise significantly after commercial operations began.
Newmont has been in a protracted dispute with the government over the compulsory divestment of its PT Newmont Nusa Tenggara subsidiary.
“It will be difficult to find local companies that have the resources to purchase stakes,” Martiono said.
Jeffrey Mulyono — head of the Forum on Post-Mining Activities and Forest Reclamation and the president director of PT Bhakti Energi Persada — said that the government should ensure that state-owned companies were given the first opportunities to buy stakes in the foreign mines.
“If private companies buy the stakes, the divestiture process will only benefit private individuals, not the state,” he said.
“It will also be difficult for the government to ensure that the private company is not financed by foreign investors.”
Aviliani, an analyst at the Institute for Development, Economics and Finance, also questioned the divestment rules, saying that protracted price negotiations could slow down the divestment process.
This year, the government expects to book approximately $2.15 billion in investment in the mining sector, up from $1.65 billion last year.
Source:The Jakarta Globe
(http://thejakartaglobe.com/business/government-fine-tunes-mining-law/315178)
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Thursday, 16 July 09
NTPC TO ENGAGE BANKERS TO ACQUIRE OVERSEAS COAL MINES
The Hindu reported that, State-run power generation company NTPC said it would appoint merchant bankers next month for acquiring coal mines identifi ...
Thursday, 16 July 09
JAPAN'S J - POWER STARTS OPS AT NEW 600 MW COAL UNIT
Reuters, a worlds leading news agency reported that, Electric Power Development Co (J-Power) said on Thursday it started commercial operations at it ...
Thursday, 16 July 09
DELIVERY OF COAL MINE EXPLORATION THROUGH NEWCASTLE PORT ROSE 11 PERCENT
July 16th, 2009 Newcastle is a port in Australia that provides services in the delivery of coal from Australia to other countries. Newcastle port ha ...
Thursday, 16 July 09
CIL KEEN ON JOINT VENTURES
* Targets to raise production by 10 m tonnes by 2012
* Plans to tap reserves of abandoned mines
The Hindu, an Indian news paper reported that, t ...
Wednesday, 15 July 09
COAL INDIA INVITES EOI FOR COAL MINING IN FOREIGN COUNTRIES
Economict Tmes reported that, Coal India, a leading PSU with a status of Navratna, today, invited Expression of Interest for selection of strategic ...
|
|
|
Showing 6596 to 6600 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- The University of Queensland
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
|
| |
| |
|
