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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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Wednesday, 29 April 09
NEW GOV'T REGULATION SHOULD INCORPORATE CONFLICT SETTLEMENT BODY - ICMA (MAJALAH TAMBANG)
A draft government regulation on mineral and coal is currently in a process of completion. The Indonesian Coal Mining Association (ICMA) proposed th ...
Tuesday, 28 April 09
S'PORE COURT RULES AGAINST DEUTSCHE ON ASSET SALE - REUTERS
Singapore's highest court has ruled that Deutsche Bank (DBKGn.DE) may have to pay unspecified damages to an investment firm as it did not get the b ...
Tuesday, 28 April 09
WORLD THERMAL COAL PRICE EXPECTED TO CRASH - PURCHASING.COM
Macquarie Bank sees 50% drop to $60/ton in 2009
Macquarie Bank today forecast the 2009 average market price for world thermal coal at $60/ton, a ...
Tuesday, 28 April 09
THAI LANNA TO OPEN NEW INDONESIAN MINE BY Q3 - REUTERS
Thailand's Lanna Resources PCL LANN.BK said on Monday it planned to open a new coal mine in Indonesia by the third quarter of 2009 with an initial ...
Tuesday, 28 April 09
SOUTH AFRICAN EXPORT COAL RETREATS ON WEAKER EUROPEAN DEMAND - BLOOMBERG
Prices for coal shipped from South Africa’s Richards Bay, site of the world’s largest export terminal for the fuel, fell for a second co ...
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- Bukit Asam (Persero) Tbk - Indonesia
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- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
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- Goldman Sachs - Singapore
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- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
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- Miang Besar Coal Terminal - Indonesia
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- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- London Commodity Brokers - England
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- Maharashtra Electricity Regulatory Commission - India
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- Energy Link Ltd, New Zealand
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- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
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- Edison Trading Spa - Italy
- White Energy Company Limited
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
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- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
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- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
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- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
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- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
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- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Wilmar Investment Holdings
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- MS Steel International - UAE
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
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- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
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- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- PTC India Limited - India
- Romanian Commodities Exchange
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- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
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- CNBM International Corporation - China
- Planning Commission, India
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- Indonesian Coal Mining Association
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- PNOC Exploration Corporation - Philippines
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- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
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- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
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- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
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- Essar Steel Hazira Ltd - India
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