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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, 19 December 09
THE FUTURES FOR 2010 - 2012 FIRMED UP COMPARED TO LAST WEEK AND WAS AT AROUND CAPE US$ 28,000 PER DAY - VISTAAR
COALspot.com (Singapore): The freight market continued to soften this week with major drop in the cape size index by almost 21 pct and Panamax , Sup ...
Friday, 18 December 09
CARGOTEC WINS IBJ'S BEST SHIP LOADING / UNLOADING SYSTEM AWARD WITH SIWERTELL
Cargotec’s Siwertell ship unloader has recently won International Bulk Journal’s best ship loading/unloading system award for 2009; out ...
Friday, 18 December 09
THERMAL COAL PROJECT MOVES AHEAD
A proposal for Australia's largest thermal coal project in Queensland's central west has taken a step forward.
Hancock Prospecting is proposing ...
Friday, 18 December 09
CHURCHILL MINING COMPLETES FEASIBILITY STUDY FOR EAST KUTAI COAL PROJECT
Churchill Mining Plc has announced the completion of the feasibility study for its flagship project, the 75% held East Kutai coal project in Indones ...
Friday, 18 December 09
COKING COAL SHORTAGE IN CHINA TO SPUR DEMAND FIGHT WITH JAPAN
China, the world’s largest steelmaker, faces a shortage of coking coal that may drive imports next year and spur a fight for resources with Ja ...
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- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- White Energy Company Limited
- Economic Council, Georgia
- Parliament of New Zealand
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Australian Coal Association
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
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