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Saturday, 25 April 09
FOREIGN SHARE DIVESTMENT STARTING THE 6TH YEAR OF PRODUCTION - MAJALAH TAMBANG
The government would set a divestment scheme for foreign miners, which would require companies to divest their ownership starting the 6th year of production. The divestment process would be arranged to gradually reach a total sum of 20% by the end of the 9th year. The technical arrangement for the divestment scheme has been included in the government regulation draft (RPP in its Indonesian abbreviation) as an implementation of the new Mining Law (Law No.4/2009).
S. Witoro Soelarno, Secretary of the Directorate General of Mineral, Coal and Geothermal – Ministry of Energy and Mineral Resources, explained that the divestment’s percentage sum and timetable would also take the interest of the related mining companies into account.
Article 112, Section 1, of the Mining Law stipulated that after 5 years of production, Mining Permit (IUP in its Indonesian abbreviation) and Special Mining Permit (IUPK in its Indonesian abbreviation) owner, whose shares owned by foreigners, are obliged to divest their shares to national entities. The national entities referred to are including central government, local government, state owned enterprises (BUMN in its Indonesian abbreviation), province owned enterprises (BUMD in its Indonesian abbreviation), or national private enterprises.
Some has considered that the regulation might be a threat for investors, since the mining business is long term in nature and that it would require extra budget. If investors must divest their shares in just five years period, they might face a financial trouble because no one would guarantee the expected return for their business.
“The condition would certainly caused difficulties and hesitation for the investors to invest their capital,” M Fadhil Hasan, an economist from the Institute for Development of Economic and Finance (INDEF), asserted.
Nevertheless, Witoro argued that the government would arrange the divestment scheme in the best manner, through the government regulation draft that is currently being prepared.
Source: http://www.majalahtambang.com/detail_berita.php?category=15&newsnr=1404
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Wednesday, 13 May 09
COAL SUPPLY MAY BE VASTLY OVERESTIMATED - ABC SCIENCE
The world's coal supply suggests reserves may be vastly overestimated and we could be facing an unprecedented global energy crisis, according to a ...
Wednesday, 13 May 09
INDONESIA ADARO NET PROFIT, REVENUE TO RISE IN 2009 - REUTERS
INDONESIA's largest coal producer by market value, PT Adaro Energy Tbk, expects double-digit growth in revenue and net profit this year, an officia ...
Wednesday, 13 May 09
ALPHA TO BUY RIVAL, CREATING NEW US COAL HEAVYWEIGHT - MININGWEEKLY.COM
Alpha Natural Resources, the biggest supplier of metallurgical coal in the US, has agreed to buy Maryland-based rival Foundation Coal for about $1,4 ...
Tuesday, 12 May 09
CHINA MINERS CUT COAL PRICE OFFER TO JAPAN UTILITIES - ALIBABA.COM
* Producers cut offer to $75.50 a tonne from over $80
* Negotiations may conclude soon as price gap narrows
* New offer at discount of about 43 pe ...
Tuesday, 12 May 09
INDO TAMBANGRAYA SEES 2010 COAL OUTPUT UP 25 PCT - REUTERS
Indonesian coal miner, PT Indo Tambangraya Megah (ITMG.JK), expects coal output to increase by up to 25 percent next year as production kicks in at ...
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- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
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