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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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Tuesday, 05 May 09
NEWCASTLE PORT'S WEEKLY COAL EXPORTS INCREASE - BLOOMBERG
COAL shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, rose 18 percent last week while the numb ...
Tuesday, 05 May 09
INDONESIA'S ADARO PAYS $78.6 MLN FOR COAL-BARGING FIRM - REUTERS
INDONESIA's largest coal producer by market value, PT Adaro Energy Tbk, said late on Monday it paid $78.6 million for a 74 percent stake in Orchard ...
Tuesday, 05 May 09
PHILIPPINES SEMIRARA STILL EXPECTS HIKE IN COAL SALES - BUSINESS MIRROR
DESPITE the anticipated soft demand resulting from the prevailing global financial crisis, the country’s largest coal producer Semirara Mining ...
Monday, 04 May 09
VISTAAR SINGAPORE SAYS, THIS MONTH DRY BULK FREIGHT LIKELY TO COME DOWN
COALspot.com (Singapore) - VISTAAR shipping Services Pte Limited of Singapore, said, the beginning of last week started with bit of weakness an ...
Monday, 04 May 09
PNOC-EC TO GROW COAL OPERATIONS - PHILIPPINE DAILY INQUIRER
LISTED firm Philippine National Oil Co.-Exploration Corp. plans to expand its operations this year to ensure the steady supply of coal and fur ...
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- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
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- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
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- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
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- Meralco Power Generation, Philippines
- PTC India Limited - India
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- Parliament of New Zealand
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- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
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- Australian Coal Association
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- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
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- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Billiton Holdings Pty Ltd - Australia
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- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
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- Global Green Power PLC Corporation, Philippines
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- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
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- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
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- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
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- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
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- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
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- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
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- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
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- Mercator Lines Limited - India
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
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- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
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- Economic Council, Georgia
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- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
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