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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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Wednesday, 31 March 10
COAL INDIA MULLS JOINT VENTURE WITH RIO TINTO AND PEABODY - DNA
DNA reported that, Coal India Ltd. (CIL) has finalised two key contenders for its international joint venture (JV) in Australian and US each. The co ...
Wednesday, 31 March 10
DRY BULK MARKET STILL MODERATELY FALLING, BUT POSITIVE SIGNS APPEAR ON THE HORIZON - HELLENIC SHIPPING
The irregularities of the current dry bulk market have been more than evident in the fact that panamax vessels today earn more than their larger cap ...
Wednesday, 31 March 10
INDIKA ENERGYS PROFIT HIT BY FOREX LOSS AND CABOTAGE - THE JAKARTA GLOBE
The Jakarta Globe reportd that, PT Indika Energy posted a 30 percent drop in 2009 net profit due to a foreign exchange loss and impairment of intang ...
Wednesday, 31 March 10
ITMG TO UP COAL OUTPUT DESPITE PERMIT PROBLEMS - THE JAKARTA POST
The Jakarta Post reported that, the country’s third largest coal producer PT Indo Tambang Raya Megah (ITMG) said it can raise output although ...
Tuesday, 30 March 10
ANALYST SEES BDI LIFT, SUGGESTS DRY BULK SHORT SQUEEZE
Analysts at Credit Suisse are bullish on Diana and see a potential short squeeze elsewhere in the sector. The Baltic Dry Index (BDI) -- an industry ...
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- Salva Resources Pvt Ltd - India
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- Wood Mackenzie - Singapore
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- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- White Energy Company Limited
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- Price Waterhouse Coopers - Russia
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- Economic Council, Georgia
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- Australian Coal Association
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- Edison Trading Spa - Italy
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- Altura Mining Limited, Indonesia
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
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- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
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- The Treasury - Australian Government
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- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
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- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- London Commodity Brokers - England
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- Parliament of New Zealand
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- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
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- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Sical Logistics Limited - India
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- Goldman Sachs - Singapore
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- The University of Queensland
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- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
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- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
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