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