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.
|
|
Saturday, 13 June 09
CLEARLY THE DRIVER FOR DRY BULK MARKET SEEMS TO BE IMPORTS BY CHINA - VISTAAR SINGAPORE
COALspot.com (Singapore): The market saw mixed results last week. The beginning of the week saw the indices dropping including the futures , however t ...
Friday, 12 June 09
SOUTH SUMATERA SPEEDS UP INTERNATIONAL HARBOR CONSTRUCTION - TEMPO INTERACTIVE
The South Sumatera Government will speed up construction of the international harbor Tanjung Api-Api. The harbor is a strategic entry point for comm ...
Friday, 12 June 09
CHINA SHENHUA NOT EYEING NEW FOREIGN COAL MINES - MEDIA
China Shenhua Energy Co Ltd , the top Chinese coal miner, will not consider buying any major overseas mines before it starts operating the Watermark ...
Friday, 12 June 09
CHINA TOP POWER COS SIGN REGIONAL COAL DEALS - REUTERS
China's top five power generating groups have signed 2009 coal supply contracts with miners in Guizhou and Xinjiang, with prices up 4 percent on th ...
Friday, 12 June 09
MERCATOR LINES TARGETS 30 MILLION TONNE FROM MOZAMBIQUE COAL MINE - STEEL GURU
India’s second largest private shipping company Mercator Lines has targeted production of 30 million tonnes of coal from its Mozambique mine o ...
|
|
|
Showing 6686 to 6690 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Australian Coal Association
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
|
| |
| |
|
