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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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Friday, 13 November 09
API4 IGNORES LOW COAL TRADES - SWISS SINGAPORE
* Jan, Feb S.Africa coal prices hit 12-month highs
* Indian trader says deals done dollars below index
Reuters reported that, the physical coal ...
Thursday, 12 November 09
INDONESIA'S BUMI COAL PRODUCTION TO INCREASE
The sale is predicted to jump 14 percent to 58 million tons.
Viva News reported that, PT Bumi Resources Tbk. (BUMI) projected that the company's ...
Thursday, 12 November 09
INDIA'S BHEL IS IN INDONESIA NOW WITH THE COST EFFECTIVE CFBC BASED BOILER TURBINE PACKAGES
COALspot.com(Indonesia): BHEL, the largest engineering and manufacturing enterprise in India in the energy-related / infrastructure sector, is now f ...
Thursday, 12 November 09
NTPC FARAKKA AND KAHALGAON UNITS SHUT DOWN ON COAL SHORTAGE
Operations at two units each of power major NTPC Ltd’s 1600 MW Farakka and the 2340 MW Kahalgaon stations have ground to a halt due to an acut ...
Thursday, 12 November 09
GANGAVARAM PORT SETS RECORD BY DISCHARGING 80,514 TONNE OF COAL CARGO
Gangavaram Port, the deepest port in the country with water depth of 20 meters, has achieved an unprecedented milestone by discharging 80,514 metric ...
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- Sical Logistics Limited - India
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- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Independent Power Producers Association of India
- Thiess Contractors Indonesia
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- Ceylon Electricity Board - Sri Lanka
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- Altura Mining Limited, Indonesia
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- Economic Council, Georgia
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- IEA Clean Coal Centre - UK
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- Global Green Power PLC Corporation, Philippines
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- Kumho Petrochemical, South Korea
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- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
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- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
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- Banpu Public Company Limited - Thailand
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- The Treasury - Australian Government
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- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Intertek Mineral Services - Indonesia
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- Standard Chartered Bank - UAE
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- Electricity Authority, New Zealand
- White Energy Company Limited
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- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- The University of Queensland
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- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
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- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Minerals Council of Australia
- VISA Power Limited - India
- Medco Energi Mining Internasional
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- New Zealand Coal & Carbon
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- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
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- Mintek Dendrill Indonesia
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- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
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- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
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- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
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- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
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- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
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- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
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- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- International Coal Ventures Pvt Ltd - India
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