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.
|
|
Tuesday, 16 June 09
INDIAN MINING WORKER ARRESTED IN BENGKULU
Forestry officials in Bengkulu Province, Sumatra, arrested one Indian national and two Indonesians on Sunday for unauthorized exploration in the ele ...
Tuesday, 16 June 09
INDIAN GOVERNMENT MAY ALLOW PRIVATE COMPANIES TO MINE COAL
The government is “strongly considering” to allow commercial coal mining by private companies in a bid to bridge the demand-supply gap, ...
Monday, 15 June 09
SAFRICA'S COAL TERMINAL EXPANSION DELAYED TO Q4
South Africa's Richards Bay Coal Terminal (RBCT) said on Monday the completion of a project to expand the export facility had been delayed to the f ...
Monday, 15 June 09
SHENHUA DENIES GIVING GROUND ON EXPORT COAL PRICE - REUTERS
China Shenhua Energy Co, the country's top coal producer, expects Japanese and South Korean clients to pay at least as much as Chinese customers fo ...
Monday, 15 June 09
POWER PLANT SUFFERS FROM COAL CRISIS - THE STATESMAN
The 3,000 mw NTPC-Kaniha power plant, the second biggest in the country, is facing an unprecedented coal crisis with stocks dipping to a low of only ...
|
|
|
Showing 6681 to 6685 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- MS Steel International - UAE
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
|
| |
| |
|
