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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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Wednesday, 16 December 09
COAL MARKETS 2010 CONFERENCE - PRESS RELEASE
COALspot.com (Singapore) Press Release – Back for the 8th year, Coal Markets 2010 will be taking place in Singapore on 28 – 29 Jan ...
Wednesday, 16 December 09
CHINA 2010 COAL TERM PRICES SEEN RISING 8% ON YEAR
Term prices of thermal coal for 2010 in China are expected to rise about 8 percent from this year's levels, as demand for power has been roaring ba ...
Wednesday, 16 December 09
KANGAROO RESOURCES TO ACQUIRE INDONESIAN COAL INTERESTS
Emerging coal producer Kangaroo Resources has significantly enhanced its production pipeline in Indonesia after reaching agreement to acquire a coki ...
Wednesday, 16 December 09
UAE'S RAS AL KHAIMAH TO INVEST $5.2B IN EAST KALIMANTAN PROJECT
Shrugging off neighbor Dubai’s debt problems, the smaller United Arab Emirate of Ras Al Khaimah announced on Tuesday that it would increase it ...
Wednesday, 16 December 09
COECLERICI EYES SECOND RUSSIA COAL MINE
* CEO says "seriously considering" mid-small size purchase
* Will use mine to increase exports to Asia
* Says delays at ports will not c ...
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- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Australian Coal Association
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- White Energy Company Limited
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
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