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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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Monday, 27 April 09
INDONESIA S.KALIMANTAN GETS COAL TRUCKS OFF PUBLIC ROADS - REUTERS
A local government in one of Indonesia's top coal-producing areas has banned coal and palm oil firms from using public roads because of the damage ...
Monday, 27 April 09
JSW ENERGY SET TO SNAP UP AFRICAN COAL MINE FOR $70 MN - ECONOMIC TIMES
Sajjan Jindal-led JSW Energy is close to acquiring a sub-Saharan African thermal coal mine, which has reserves of more than 200 million ...
Monday, 27 April 09
INDONESIA MINING RULES MAY DETER INVESTORS-OFFICIALS - REUTERS
Indonesia's rules on foreign divestment of mining projects must be revised to address issues such as finding buyers if Southeast Asia's biggest ec ...
Monday, 27 April 09
UNDERGROUND MINING IN FOREST AREAS NOT SO SIMPLE - THE JAKARTA POST
The government's plan to issue a presidential decree allowing mining companies to mine underground in protected forest concession areas has resulte ...
Monday, 27 April 09
COAL PRICES ABOVE FUNDAMENTALS - STUFF.CO.NZ
Coal prices have defied the gravity of fundamental factors, supported by stockpiling prompted by cheaper prompt prices rather than a reflextion of a ...
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- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
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- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
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- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
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- The Treasury - Australian Government
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- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Australian Coal Association
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- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
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- Eastern Coal Council - USA
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
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- OPG Power Generation Pvt Ltd - India
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- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
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