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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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- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- PTC India Limited - India
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Minerals Council of Australia
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
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