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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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- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
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- Merrill Lynch Commodities Europe
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- Ministry of Transport, Egypt
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- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
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- The State Trading Corporation of India Ltd
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- Ceylon Electricity Board - Sri Lanka
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- Global Coal Blending Company Limited - Australia
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- Electricity Authority, New Zealand
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- New Zealand Coal & Carbon
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- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- The Treasury - Australian Government
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- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
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- Vedanta Resources Plc - India
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- Marubeni Corporation - India
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- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
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- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
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- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
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- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Australian Coal Association
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
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- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
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- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
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- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
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- Indian Oil Corporation Limited
- White Energy Company Limited
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- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
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- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
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- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
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- Karbindo Abesyapradhi - Indoneisa
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- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
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- Makarim & Taira - Indonesia
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- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
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- Chamber of Mines of South Africa
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