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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, 23 March 09
STRAITS TO SELL STAKE IN COAL ASSETS TO PTT -THEAUSTRALIAN.NEWS.COM
STRAITS Resources will sell a 60 per cent stake in its Indonesian coal assets to Thailand's PTT International Co. for $US335 million.
The transa ...
Monday, 23 March 09
BMA TAKES 60 PCT CUT IN JAPAN COKING COAL PRICE-CITI - REUTERS
BHP Billiton Mitsubishi Alliance (BMA), the world's top coking coal exporter, has agreed to accept a discount of around 60 percent for the steel-ma ...
Sunday, 22 March 09
SHENHUA ENERGY'S 2009 COAL PRODUCTION MAY GAIN 8% - BLOOMBERG
China Shenhua Energy Co., the nation’s biggest coal producer, may increase production of the energy fuel by about 8 percent this year, slower ...
Friday, 20 March 09
INDONESIA ORDERS TEMPORARY HALT AT BAYAN COAL MINE - REUTERS
Indonesia has ordered a coal mining unit of PT Bayan Resources to temporarily stop production for operating outside approved areas, a government off ...
Friday, 20 March 09
COKING-COAL PRICE STRUCK AT $115-$125, CITIGROUP SAYS - BLOOMBERG
BHP Billiton Ltd., the world’s largest miner, agreed with Nippon Steel Corp. to benchmark coking coal prices of $115 to $125 a metric ton, Cit ...
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- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Australian Coal Association
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- White Energy Company Limited
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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