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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, 02 January 10
INDONESIAS COAL OUTPUT RISES BY 5%
Indonesia, Asia’s largest coal exporter, produced 254 million tons of coal in 2009, a 5.8 percent increase from 2008 and well ahead of the gov ...
Saturday, 02 January 10
TAIPOWER FORECASTS COAL DEMAND TO SNAP DECLINE
Taiwan Power Co., Asia's biggest importer of thermal coal, expects its demand for the fuel to rise in 2010 after falling for two years as the islan ...
Friday, 01 January 10
COAL INDIA TO START IMPORTING DIRECTLY
According to sources, the coal major has already finalised tender document to import four million tonnes thermal grade coal for supplies to NTPC. Th ...
Thursday, 31 December 09
INDONESIA SEES 2010 MINING INVESTMENT UP 39 PCT
Reuters reported that, Indonesian mining investment is expected to hit $2.5 billion next year, up from $1.81 billion in 2009, supported by greater c ...
Thursday, 31 December 09
YANDICOOGINA BECOMES FIRST MINE IN AUSTRALIA TO PRODUCE 50 MILLION TONNES A YEAR
COALspot.com Press Release: Rio Tinto's Yandicoogina, Australia's largest-producing iron ore mine, has broken the 50 million tonne mark for annual ...
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- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- MS Steel International - UAE
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Australian Coal Association
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
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