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