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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, 06 April 09
RICHARDS BAY COAL TERMINAL EXPORTS ROSE 5 PERCENT IN MARCH - BLOOMBERG
South Africa’s Richards Bay Coal Terminal, the world’s largest coal-export facility, shipped 5 percent more coal in March than the same ...
Monday, 06 April 09
INDIA'S OSWAL CHEM EYES INDONESIAN COAL MINES -ECONOMICTIMES
Oswal Chemicals and Fertilisers (OCFL), part of Abhay Oswal-led Oswal group, has initiated talks with three separate Indonesian coal firms to ...
Thursday, 02 April 09
FOREIGNERS ALSO CHEER FOR INDONESIA'S THE NEW MINING LAW - MAJALA TAMBANG
Three mining giants, Australia's Rio Tinto along with Canada's Barrick Gold and Southern Arc, are among foreign corporations currently applying fo ...
Wednesday, 01 April 09
INDONESIAN GOVERNMENT REVISES MINING REVENUE TARGET DOWN 26% - THE JAKARTA POST
Government income from mining this year, excluding taxes, is expected to drop by about 26 percent to Rp 11 trillion ($957 million), primarily becaus ...
Wednesday, 01 April 09
INDONESIAN OFFICIAL CLAIMS NEW LEGISLATION IS VINDICATED AS OVERSEAS FIRMS LINE UP FOR MINING LICENSES - THE JAKARTA GLOBE
The Energy and Mineral Resources Ministry is expected to issue six mining licenses under the country’s new mining law over the next two months ...
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- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Central Electricity Authority - India
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
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