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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, 27 February 09
WIKA TO ACQUIRE MINING COMPANY
The Jakarta Post reported that, Public listed state construction firm PT Wijaya Karya (Wika) is to acquire a mining contracting firm in the first se ...
Friday, 27 February 09
COASTAL ENERGEN INKS PACT WITH CHINESE FIRM FOR POWER EQUIPMENT
My Digital Fc reported that, Dubai-based Coal and Oil Group, which is setting up a 1,200MW thermal power plant in Tamil Nadu, has tied-up with China ...
Thursday, 26 February 09
GMR INFRA COMPLETES INDONESIAN BUY
Blonnet reported that, GMR Infrastructure Ltd today confirmed the acquisition of an Indonesian coal mining company for a consideration of $80 millio ...
Wednesday, 25 February 09
INDONESIAN GOVERNMENT TO REGULATE MINIMUM COAL SELLING PRICES
The Jakarta Post reported that, To complement the recent enactment of the new mining law, the government is preparing to introduce a coal pricing in ...
Thursday, 19 February 09
GEOTHERMAL ENERGY DOMINATES 10.000 MW POWER PROJECT - ESDM
The role of coal as a source of energy is superseded by geothermal energy to power the second phase of the 10.000 megawatt (MW) power plant project. ...
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- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
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- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
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- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Australian Coal Association
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Eastern Energy - Thailand
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
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- International Coal Ventures Pvt Ltd - India
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- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
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