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