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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, 02 May 09
BUMI'S FIRST-QUARTER PROFIT RISES 21% ON COAL PRICE - BLOOMBERG
PT BUMI RESOURCES, Asia’s biggest exporter of power-station coal, said first-quarter profit rose 21 percent after it earned higher prices for ...
Saturday, 02 May 09
COAL PRICES TO RISE ON CHINESE SUPPLY, INDIAN DEMAND, UBS SAYS
Peter Hickson, an analyst with UBS AG in London, comments on prices for thermal coal, burned to generate power. He commented in a report today.
& ...
Friday, 01 May 09
DEUTSCHE, BECKKETT CLAIMING ADARO WIN - THE JAKARTA GLOBE
Both Deutsche Bank AG and Beckkett, an investment firm controlled by Indonesian tycoon Sukanto Tanoto, claimed victory on Tuesday after Singapore&rs ...
Thursday, 30 April 09
SAN MIGUEL IN TALKS TO BUY STAKE IN ADARO - REUTERS
San Miguel Corp is in talks to buy a stake worth about $500 million in Adaro Energy , Indonesia's largest coal producer by market value, the Philip ...
Wednesday, 29 April 09
BAYAN READY TO OPERATE WORLD'S LARGEST COAL QUALITY IMPROVEMENT FACILITY - MAJALAH TAMBANG
PT. Bayan Resources Tbk. (hereinafter referred to as Bayan), an Indonesian coal manufacturer, announced that they are ready to operate the world's ...
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- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Minerals Council of Australia
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- The University of Queensland
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Planning Commission, India
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
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