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