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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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Saturday, 09 May 09
CHINA PLANS TO BUILD COAL STOCKPILE BASES IN SHANDONG - BLOOMBERG
China, the world’s largest coal producer and consumer, plans to build stockpiles of the fuel in the eastern province of Shandong to ensure sup ...
Friday, 08 May 09
INDONESIAN STATE AUDIT BOARD COULD ONLY REACHED A SMALL NUMBER OF KP AND PKP2B - MAJALAHTAMBANG
THE LACK of personnel and the very limited time period have been the reasons why the 2nd semester of the special purpose audit for coal mining ...
Friday, 08 May 09
B.C.'S MINING INDUSTRY HIGH COAL PRICES TO RECORD 2008 PROFITS - PAGUNTAKA
AGGREGATE pre-tax earnings rose to $3.2 billion, the highest amount in the 41-year history of a PricewaterhouseCoppers survey.
B.C.’s minin ...
Thursday, 07 May 09
ASIA COAL-PRICES EASE TO NEAR $63 ON DEMAND CONCERNS - REUTERS
AUSTRALIAN thermal coal prices, a benchmark for Asia, edged lower to around $63 a tonne on concerns over demand, after hitting a two-week high of $6 ...
Thursday, 07 May 09
RICHARDS BAY COAL SHIPMENTS FALL MOST IN 9 MONTHS - BLOOMBERG
RICHARDS BAY Coal Terminal Ltd., Africa’s largest coal-export facility, said shipments fell 24 percent last month, the biggest drop in nine mo ...
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- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Planning Commission, India
- London Commodity Brokers - England
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
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