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