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