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