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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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Sunday, 26 April 09
MITRA HOPES TO SECURE DEALS WITH TWO COAL FIRMS BY JUNE - THE JAKARTA POST
An integrated oil and gas services company, publicly listed PT Mitra Rajasa, is expecting to seal acquisition deals with two coal companies in June, ...
Sunday, 26 April 09
INDONESIAN GOVT SAYS COAL MINES CAUSE WEEKLONG FLOOD - THE JAKARTA POST
Samarinda administration in East Kalimantan admitted openly Thursday that the weeklong flood that paralyzed the city was caused by unruly management ...
Saturday, 25 April 09
INDO TAMBANGRAYA MEGAH ALLOCATED USD 126 MILLION FOR CAPITAL SPENDING - MAJALAH TAMBANG
Somyot Ruchirawat, President Director of PT Indo Tambangraya Megah, Tbk (ITMG), has announced the company's total dividend payment of Rp 1,345 per ...
Saturday, 25 April 09
MINING SECTOR IS STILL ON THE SURPLUS - THE JAKARTA POST
The global financial crisis is apparently also having an impact on the mining sector. People are thinking twice about investing in the mining sector ...
Saturday, 25 April 09
ADARO RUNS CATARACT OPERATION PROGRAM - THE JAKARTA POST
As part of its CSR program, thermal coal producer PT Adaro Indonesia has made cataract operations available to residents of Tandjung district, South ...
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- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- The University of Queensland
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
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