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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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Monday, 28 December 09
SOMALI PIRATES SAY $4 MILLION RANSOM PAID FOR COAL SHIP
A helicopter dropped a $4 million ransom payment on Sunday on to the deck of a Chinese coal ship hijacked by Somali pirates in mid-October, a pirate ...
Saturday, 26 December 09
COAL INDIA, RIO TINTO MAY HOLD TALKS SOON ON TIE-UP
State owned Coal India Limited (CIL), which is in the race for acquisition of overseas coal properties to plug the demand supply shortfall of the dr ...
Saturday, 26 December 09
COKING COAL PRICES MAY RISE BY 10 - 15% FROM APRIL 2010
The price of coking coal, one of the key raw materials for steel production, is likely to increase by 10-15% in next April, the month in which m ...
Saturday, 26 December 09
COAL INDIA SECURES TWO BLOCKS IN MOZAMBIQUE
It's official now. Mozambique has awarded two coal acreages in its Maotize region with an estimated one billion tonne reserves to Coal India Ltd bu ...
Thursday, 24 December 09
DRY BULK CHARTERING - SHIPPING UPDATE
Handy
Continued firm conditions for the Handymax / Supramax market in the Atlantic despite the BSI´s downward trend. As chrs scramble to cov ...
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- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- MS Steel International - UAE
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
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