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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, 29 December 09
PROFIT IN COAL INDUSTRY DOWN 9.4% Y-O-Y IN JAN.- NOV.
In November, China's coal production was 289mln tons, up 26.3% year on year, an increase of 5.2% over last month. China's average daily trucks loa ...
Tuesday, 29 December 09
DHARMA HENWA EYES 20% REVENUE GROWTH
Local integrated mining services provider PT Dharma Henwa, which was earlier this year acquired by coal mining giant PT Bumi Resources, expects reve ...
Monday, 28 December 09
NEED TO IMPORT COAL COMES EARLY
Viet Nam may need to start importing coal as early as 2012, three years earlier than expected, to meet its electricity demands.
The Viet Nam Coal ...
Monday, 28 December 09
GOVT EYES $3.57B MINING, GEOTHERMAL INVESTMENT
The country can expect up to US$3.57 billion in investment in mining and geothermal energy next year, which would represent an increase by more than ...
Monday, 28 December 09
INDONESIAN MINER LINKED TO FUGITIVE FINANCIER
The Energy Ministry is unlikely to approve the transfer of ownership of coal miner PT Riau Baraharum on allegations it is indirectly owned by fugiti ...
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- Renaissance Capital - South Africa
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- Kaltim Prima Coal - Indonesia
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- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- White Energy Company Limited
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- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Meenaskhi Energy Private Limited - India
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- CNBM International Corporation - China
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- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Parliament of New Zealand
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- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Marubeni Corporation - India
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- Planning Commission, India
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- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
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- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
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- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
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- Trasteel International SA, Italy
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- Deloitte Consulting - India
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
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- Electricity Authority, New Zealand
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- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
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- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
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- Mintek Dendrill Indonesia
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- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
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- Port Waratah Coal Services - Australia
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Australian Coal Association
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- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
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- Bayan Resources Tbk. - Indonesia
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- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
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