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