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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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Friday, 06 March 09
CHURCHILL STARTS REVERSE DRILLING AT INDONESIAN COAL PROJECT
Miningweekly reported that, Aim-listed minerals explorer Churchill Mining on Thursday stated that reverse drilling at its East Kutai coal project (E ...
Thursday, 05 March 09
UAE FUND PLANS INDONESIA COAL RAIL LINK
News.alibaba reported that, A United Arab Emirates' fund signed a memorandum of understanding on Monday (2 March 2009) with an Indonesian prov ...
Thursday, 05 March 09
CHINA COAL-PRICES LITTLE CHANGED DESPITE PLUNGE ABROAD
China's spot coal prices were little changed from a week earlier, despite the sharp fall in the international market, and demand for coal remains s ...
Thursday, 05 March 09
RAK TO BUILD COAL FIRED POWER STATION
The National Ras al Khaimah, which is developing a coal mine in Indonesia, will build a coal-fired power plant in the emirate in the next two years ...
Wednesday, 04 March 09
COAL: GLOBAL DEMAND WEAKENS
The Jakarta Post reported that, While coal prices were stickier on the way down compared to other commodities like oil, the Newcastle price now sugg ...
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- Essar Steel Hazira Ltd - India
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- Vizag Seaport Private Limited - India
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- Siam City Cement PLC, Thailand
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- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
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- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
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- Electricity Generating Authority of Thailand
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
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- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
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- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
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- Samtan Co., Ltd - South Korea
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- GMR Energy Limited - India
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- Star Paper Mills Limited - India
- London Commodity Brokers - England
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- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
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- New Zealand Coal & Carbon
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- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
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- The University of Queensland
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- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
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- Dalmia Cement Bharat India
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- CNBM International Corporation - China
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- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
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- GAC Shipping (India) Pvt Ltd
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- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
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- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Planning Commission, India
- White Energy Company Limited
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
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- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Australian Coal Association
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
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- Posco Energy - South Korea
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- Directorate Of Revenue Intelligence - India
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- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
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- Petrochimia International Co. Ltd.- Taiwan
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- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
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- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
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