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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, 16 March 09
COAL MINER BUKIT ASAM RECORDS 135% GAIN IN NET PROFIT FOR 2008 - THE JAKARTA GLOBE
Indonesia's state-owned coal miner PT Tambang Batubara Bukit Asam Tbk said its net profit jumped 135 percent last year, having sold more coal at hi ...
Saturday, 14 March 09
NATIONAL ALUMINIUM TO IMPORT COAL NEXT MONTH TO EASE SHORTAGE - BLOOMBERG
Bloomberg reported that, National Aluminium Co., India’s biggest alumina maker, plans to import as much as 150,000 metric tons of coal next mo ...
Friday, 13 March 09
VIETNAM APPROVES TWO COAL-FIRED POWER PLANTS TO MEET DEMAND -THANHNIENNEWS
Thanhnien News reported that, The government has approved a proposal to build two 2,400-megawatt coal-fired power plants in the provinces of Nam Din ...
Friday, 13 March 09
INDONESIAN STATE-RUN COMPANIES PROFIT MAY FALL 10% THIS YEAR -THANHNIENNEWS
Tanhnien news reported that, Indonesian state-run companies’ profits may fall about 10 percent this year as commodity prices decline, cutting ...
Thursday, 12 March 09
INDONESIA'S CIREBON ELEC IN TALKS ON COAL SUPPLIES - REUTERS
Reuters reported that, Indonesia's PT Cirebon Electric Power, an independent power producer, is in talks with a number of coal suppliers to seek a ...
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- Anglo American - United Kingdom
- The University of Queensland
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- White Energy Company Limited
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Planning Commission, India
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
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