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Monday, 25 January 10
INDONESIAN GOVERNMENT TO ISSUE REGULATION FOR IMPLEMENTATION OF MINERAL AND COAL MINING BUSINESS ACTIVITIES LAW NO.4 / 2009 SOON
 COALspot.com (Indonesia): The government regulation concerning implementation of mineral and coal mining business activities Law no.4 / 2009 is expecting to issue anytime in January / February 2010. The government will address coal benchmark price issues and share divestment issues in this upcoming regulation to attract more new investment in the mining sector. The government is planning also to issue 4 new regulations attached to the new mining and coal law in 2010.
SHARE DIVERSTMENT
Holders of IUP or IUPK whose 100% shares (hundred percent) are owned by foreigners, is obliged to divest at least 20% (twenty percent) their shares directly to the Government, local government, state enterprises, enterprises, or national private enterprise. A divestment shall be made not later than 90 (ninety) working days of the end of fifth year of production of mine. The Government, the regional governments, State-Owned Entities, and Region-owned Entities must submit their expression of interest within 60 (sixty) working days from the date of offer received.
If the Government and the Regional Governments are disinterested in the purchase of divested shares then, the shares shall be offered to national private entities within 30 (thirty) working days. Payment and delivery of the purchased shares by the Indonesian participants shall be made within 90 (ninety) working days of the date of expression of interest. If there is no party interested to buy offered shares within time frame then, divestment shall be made in the following year.
| "100% foreigners owned coal mines, are obliged to divest at least 20% of its shares to Indonesians end of 5th year of production" |
Ancillary provisions on share divestment shall be governed by Regulation of the Minister, which will be expecting to follow government regulation.
COAL BENCHMARK PRICE
The Minister of Energy and Mineral Resources, shall determine benchmark prices for coal. Any coal sale by IUP / IUPK holders, must obtain approval from the Minister prior to sales. Ancillary provisions on determination of benchmark coal prices shall be governed by separate ministerial regulation. IUP/IUPK holders also obligate to report to the Minister, the governors or the regents/mayors at least (1) once a month, accompanied by documents/conclusive proofs supporting their production and sales.
The report must includes selling prices, sales volume, quality of coal and supply point.
A benchmark steam (thermal) coal price shall be determined with reference to the average coal prices indexes published by internationally acknowledged institutions.
Benchmark coal prices shall be determined basis Free on Board (FOB) Mother vessel. If a delivery point of coal sale is not FOB Mother vessel, then coal prices must reflect benchmark price added with or deducted by adjustment of cost approved by the Minister. (cs)
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Saturday, 06 February 10
FREIGHT WOULD CONTINUE TO BE SOFT NEXT WEEK - VISTAAR SHIPPING
COALspot.com (Singapore): The freight market continued to soften this week including the stock markets. The main reason seems to be Chinese ne ...
Saturday, 06 February 10
COAL MINISTRY SEEKS CUT IN IMPORT DUTY
The coal ministry wants the finance ministry to reduce the 5.1% import duty on thermal coal and continue with the existing zero import duty on cokin ...
Friday, 05 February 10
IN 2010, CHINA COAL OUTPUT TO REACH AROUND 3.3BLN T
It is expected that China's coal production in 2010 will reach around 3.3bln tons. It is predicted that in the first quarter of 2010, the tight coa ...
Thursday, 04 February 10
INDIA REMAINS FIRM - FEARNRESEARCH
CHARTERING - DRY BULK
Handy
The BSI has continued it´s downward movement for 2 weeks now.Nevertheless activity in the atlantic remains bu ...
Thursday, 04 February 10
INFRASTRUCTURE DEVELOPMENT & INFRASTRUCTURE ASIA 2010
ASIA-PACIFIC MINISTERIAL CONFERENCE ON PUBLIC-PRIVATE PARTNERSHIPS FOR INFRASTRUCTURE DEVELOPMENT & INFRASTRUCTURE ASIA 2010
IPFA TO JOIN INF ...
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- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- PTC India Limited - India
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
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