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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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Wednesday, 06 January 10
BUMI SHARES UP AS OVERALL PERFORMANCE BEATS PREDICTIONS
The world’s largest thermal coal exporter PT Bumi Resources saw its shares jump 10 percent to Rp 2,675 ($29 US cents) on Tuesday after the com ...
Wednesday, 06 January 10
INDIA MAY HAVE BECOME TOP BUYER OF SOUTH AFRICAN COAL
India may have overtaken Europe for the first time as the biggest purchaser of South African coal in 2009, according to Raymond Chirwa, Richards Bay ...
Wednesday, 06 January 10
COAL PEAK RECEDES INTO THE FAR DISTANCE
COALspot.com (German): Coal will be available to mankind as an energy source for the next 120 years.
The German Coal Importer Association has ca ...
Tuesday, 05 January 10
SUPRAMAX MARKET REMAINED QUIET OVER THE LAST 10 DAYS BRS - DRY BULK
Despite a damp end to the year for bulk rates, shipping has weathered the storm far better than was initially expected in the wake of the financ ...
Tuesday, 05 January 10
WINTER WEATHER SPIKES COAL PRICES - CHINA UPDATE
Cold weather is driving coal prices higher and will lend the advantage in annual negotiations to suppliers, analysts said, predicting that the risin ...
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- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
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- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Deloitte Consulting - India
- Australian Coal Association
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- The University of Queensland
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
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