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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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Thursday, 28 January 10
THE IRON ORE EXPORTS FROM INDIA TO CHINA ARE DOWN AND THE RATES DROPPED
HANDY
The BSI has continued its downward trend confirming the softening of the Atlantic since the previous week and reflecting a correction of the ...
Thursday, 28 January 10
COAL - VIETNAM / TRADE
Vietnam expects to turn into a coal importer within three years, spurred by an industrial boom and rising power consumption, a senior executive with ...
Thursday, 28 January 10
JAPAN STEELMAKERS OPPOSE QUARTERLY COAL CONTRACTS
Japanese steelmakers oppose miner BHP Billiton's attempt to switch to quarterly contracts from annual deals for supplying coal, as the change would ...
Thursday, 28 January 10
BHP MAY SELL 25% STAKE IN INDONESIAN COAL PROJECT
BHP Billiton Ltd. plans to sell only a 25 percent stake in a coal project in Indonesia as it wants to retain control of the asset, said Indra Dianna ...
Thursday, 28 January 10
TRANSNET ASPIRES TO 81MT/Y COAL EXPORT CAPACITY
South African State-owned rail transport enterprise Transnet wants to increase coal-line rail capacity to 81-million tons a year as part of its Quan ...
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- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- VISA Power Limited - India
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Australian Coal Association
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- ASAPP Information Group - India
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