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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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Sunday, 08 March 09
AUSTRALIA'S FELIX STUDYING COAL ACQUISITIONS IN INDIA, INDONESIA
Bloomberg reported that, Felix Resources Ltd., an Australian supplier of coal to Korea and Japan, is studying acquisitions of energy coal assets in ...
Saturday, 07 March 09
THERMAL COAL PRICES MAY DROP, STANDARD CHARTERED SAYS
Bloomberg reported that, Coal prices may decline as a slump in demand for the fuel outpaces cuts in production, Standard Chartered Plc said.
Exp ...
Friday, 06 March 09
STRAITS ASIA EYES 3RD MINE
Straitstimes reported that, Mining company Straits Asia Resources is on an expansion trail to more than double its output by 2012.
Amid the econo ...
Friday, 06 March 09
INDONESIA MAY MISS 2009 COAL OUTPUT TARGET-OFFICIAL
Indonesia, the world's top thermal coal exporter, may fail to achieve its coal production target this year as the global economic crisis dents dema ...
Friday, 06 March 09
POWER FIRMS HEAD TO INDONESIA FOR COAL
The Hindu Businessline reported that, The enactment of a new, more liberal, mining legislation in Indonesia is drawing coal-starved Indian power uti ...
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- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- VISA Power Limited - India
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
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