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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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Tuesday, 26 January 10
AUSTRALIAN FIRM TO MINE COAL IN WEST BENGAL
India Resources Ltd (IRL), a mining firm listed on the Australian Stock Exchange, has decided to enter into contract mining of coal in
India ...
Monday, 25 January 10
MINING GROUPS MAY SEEK JUDICIAL REVIEW OF 2009 LAW
Indonesia’s mining associations said on Wednesday that they planned to seek a judicial review of the 2009 Mining Law this year if they are una ...
Monday, 25 January 10
DUQM IWPP'S COAL REQUIREMENTS PROJECTED AT 3MT PER YEAR
Oman's first coal-fired Independent Water and Power Project (IWPP) planned at Duqm is envisaged to have a feedstock requirement of around 3 million ...
Monday, 25 January 10
THE FUTURES FOR CAPE, PANAMAX AND SUPRAMAX FOR THREE YEARS (2010 - 2012) WAS AT AROUND US$ 32,000, US$ 20,000 AND US$ 17,000 PER DAY RESPECTIVELY
COALspot.com ( Singapore): The freight market remained flat this week the market slight soft.
BDI INDEX
The BDI was down by 95 points and closed ...
Saturday, 23 January 10
COAL CAMARADERIE
Union coal minister Shriprakash Jaiswal feels Asian countries should join hands in developing minerals, particularly coal.
At the third Asian Min ...
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- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
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- Thiess Contractors Indonesia
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- MS Steel International - UAE
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
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- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- White Energy Company Limited
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- The University of Queensland
- The State Trading Corporation of India Ltd
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- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Planning Commission, India
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- Minerals Council of Australia
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- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Ambuja Cements Ltd - India
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- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
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