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