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.
|
|
Sunday, 21 June 09
CHINESE MINERS SEAL THERMAL COAL DEALS WITH JAPAN AND KOREA
As the confrontation between China's power and coal enterprises become more and more serious, coal enterprises which had supposedly been in the sho ...
Sunday, 21 June 09
MERCATOR TO BUY 3 BULK VESSELS
Mercator Lines, India’s second-largest private shipping company, is expanding its capacity and is set to acquire three gearless post-Panamax b ...
Sunday, 21 June 09
COAL SCARCITY HITS BIHAR POWER PLANTS
The Rs 60,000 crore 12,500mw power projects cleared by the State Investment Planning Board (SIPB) which could change the face of Bihar if commission ...
Sunday, 21 June 09
NLC CHALKS OUT RS 40K CR INVESTMENT
Public sector mini rathna, Neyveli Lignite Corporation is in rapid expansion mode and has chalked out Rs 40,000 crore investment both in
the mining ...
Sunday, 21 June 09
TRANSPORT PROBLEMS HOLD BACK RUSSIAN COAL EXPORTS
Limited rail capacity and poor port infrastructure are frustrating the ambitions of Russia's leading coal producers to increase exports quickly to ...
|
|
|
Showing 6661 to 6665 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Australian Coal Association
- Eastern Energy - Thailand
- Planning Commission, India
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
|
| |
| |
|
