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Saturday, 13 February 10
INDONESIA ISSUES NEW MINING REGULATIONS
 Indonesia has issued two new regulations under its mining law to allow firms to start obtaining mining permits, in a move that should increase certainty and help boost investment in the mining sector.
The new regulations - one covering mining areas and the other on mining business - should allow investors to obtain new mining permits and help speed up issuance for existing investors.
"The regulations were issued yesterday but will be applied retroactively from February 1," Bambang Gatot Ariyono, director of coal and mining business at the energy and mining ministry, told reporters.
"We issued them quickly because of concern about mining licensing," Ariyono said.
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“The regulations were issued yesterday but will be applied retroactively from February 1” - Director of Coal and Mining Business
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The government had stopped issuing new permits ahead of the introduction of the regulations.
Miners who had applied for a contract before a new mining law was passed in December 2008 will be able to continue their application.
The regulations will also allow the government to start tenders in mining areas.
Budi Irianto, a spokesman for the Indonesian unit of global miner Rio Tinto, said the issuance of the regulations could help the firm's nickel project obtain a long-awaited mining permit.
"We have submitted an application for a mining licence. With the new regulations out, we hope we can get the licence this year," Irianto said.
Rio Tinto launched an application for a mining contract of work - a type of mining licence under the previous mining law - in 1999 for its $2 billion nickel project on Sulawesi island.
But when the new coal and mining law was passed the firm was required to apply for a shorter-term mining permit.
The Sulawesi nickel project is expected to have a capacity of 46 000 t/y.
The government awarded the last contract of work to Australia's Indo Mines for its pig iron project in November 2008, a month before the new mining law was passed in December.
Indo Mines was also the first mining firm to sign a mining contract for a decade.
Southeast Asia's largest economy has struggled to lure foreign investment into mining in recent years, compounded by some politicians taking a nationalist line on resource exploitation and also because of uncertainty over regulations tied to a new mining law passed in 2008.
The government has said it expected mining investment to hit $2,5-billion next year, up from $1,81-billion in 2009, supported by greater certainty after the introduction of new mining regulations.
Source: Reuters / Mining Weekly
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Tuesday, 11 May 10
DRY BULK RATES SHOOT UP ON STRONG CARGO DEMAND
The dry bulk industry’s benchmark, the Baltic Dry Index (BDI) has kept its momentum, as predicted by analysts and shipping experts, managing t ...
Saturday, 08 May 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS AT AROUND PANAMAX / $ 21500 & SUPRAMAX / $ 18500 PER DAY - VISTAAR SHIPPING
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Saturday, 08 May 10
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Saturday, 08 May 10
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ABC - CBN News reported that, State-run National Power Corp. (Napocor) said on Thursday it awarded 2 contracts for the supply of a total 122,000 ton ...
Saturday, 08 May 10
RICHARDS BAY COAL SHIPMENTS FALL TO AN 11-MONTH LOW - BLOOMBERG
Bloomberg reported that, Coal shipments from Richards Bay Coal Terminal, Africa’s biggest export facility for the fuel, fell to an 11-month lo ...
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- Eastern Coal Council - USA
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- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
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- Coal and Oil Company - UAE
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- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Planning Commission, India
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- Port Waratah Coal Services - Australia
- Parliament of New Zealand
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- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
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- Minerals Council of Australia
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- Holcim Trading Pte Ltd - Singapore
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- Toyota Tsusho Corporation, Japan
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- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
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- Savvy Resources Ltd - HongKong
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- Australian Coal Association
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- Indian Energy Exchange, India
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- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Edison Trading Spa - Italy
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- Indo Tambangraya Megah - Indonesia
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- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
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