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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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Thursday, 24 December 09
EUROSEAS LTD. ANNOUNCES TWO-YEAR TIME CHARTER AGREEMENT FOR PANAMAX BULK CARRIER
Euroseas Ltd., an owner and operator of drybulk carriers and container vessels and provider of seaborne transportation for dry bulk and containerize ...
Wednesday, 23 December 09
INDONESIA POWER CHIEF TO BUILD PLANTS OUTSIDE JAVA
Indonesia's state electricity firm plans to build new power plants outside Java island with a combined capacity of around 2,000 megawatts to resolv ...
Wednesday, 23 December 09
BUKIT ASAM SEES CHINA COAL DEMAND BOOST
* Rebound in prices to have pushed up 2009 revs
* To more than double Tarahan port capacity
Reuters reported that, Indonesian state-owned coal m ...
Wednesday, 23 December 09
MACARTHUR COAL OFFERS TO BUY RIVAL GLOUCESTER
Queensland-based Macarthur Coal will offer to buy fellow Australian Gloucester Coal, in a move to add two new mines and increase coal resources.
...
Tuesday, 22 December 09
CHINA CONTRACTED COAL PRICE FOR 2010 SEES SLIGHT INCREASE
A number of coal and power enterprises have concluded their annual power-coal supply contracts for 2010, and the contracted coal price saw slight in ...
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- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- White Energy Company Limited
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- PTC India Limited - India
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
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