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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)
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Monday, 13 July 09
COAL SECTOR IN VIETNAM INCREASE THE TARGET 43 MILLION TONNES THIS YEAR
Asian Mining Stock reported that, there was a change in a very good Coal Mining Industries Group (TKV) that Vietnam has decided to increase coa ...
Saturday, 11 July 09
THE IMPORT OF STEAM COAL FROM INDONESIA & S/A TO INDIA WILL CONTINUE TO INCREASE - VISTAAR
COALspot.com ( Singapore): Vistaar Shipping, an experienced ship operator in Singapore said, The market continued to be soft this with doubts a ...
Friday, 10 July 09
DMO AND ICPR AIMED AT SECURING DOMESTIC COAL SUPPLY
COALspot.com (Indonesia): According to website of DGCMG, the implementation of coal Domestic Market Obligation (DMO) and the Indonesian Coal P ...
Friday, 10 July 09
INDONESIAN MINING LAW IN TRANSITION
Further to the enactment of Law No. 4 of 2009 on Mineral and Coal Mining (“Law 4/2009”), the enactment of various implementing regulatio ...
Thursday, 09 July 09
COAL EXPORTS TO CHINA MAY FALL AS PRICES, SHIPPING RATES RISE
CHINA'S appetite for Australian coal may fall in July and August from earlier highs, due to a recent recovery in regional prices and higher interna ...
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- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
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