We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Monday, 27 April 09
INDONESIA MINING RULES MAY DETER INVESTORS-OFFICIALS - REUTERS
Indonesia's rules on foreign divestment of mining projects must be revised to address issues such as finding buyers if Southeast Asia's biggest economy is to attract new investment in the sector, industry officials said.
The issue of divestment, whereby foreign investors are required to sell down their stakes in local units, has led to several disputes involving global players.
A local unit of Newmont Mining Corp (NEM.N) is currently involved in an arbitration case over share divestment. In 2003, Rio Tinto (RIO.AX) and BP (BP.L) were embroiled in a long legal battle over the sale of a stake in PT Kaltim Prima Coal (KPC)
A new mining law passed in December requires foreign investors to divest shares to either the government, state-owned enterprises, and/or a local private entity after the fifth year of commercial production.
The previous mining law, dating from 1967, did not include this requirement. However, some mining companies, including PT Newmont Nusa Tenggara (NNT), were required to divest some of their shares to the government and local investors according to the terms of their contract of works with the government.
"The main concern for investors is the divestiture process that KPC and Newmont experienced was bad, because the provision in the contract of works was not well drafted," said Bob Parsons, an independent mining consultant.
"The divestiture provision will discourage foreign investment because it's against international business practices," he added.
The new mining law promises more certainty for investors, but also includes some contentious issues, with contracts of work replaced by shorter-term mining permits.
Priyo Pribadi Soemarno, executive director of the Indonesian Mining Association, said the five-year divestiture period was too short.
"Mining is a long-term business and is financed through loans. They need time to reach break-even point, repay the loan before starting to sell their shares, and five years is not sufficient," Soemarno said.
"We are not against divestiture. But it should not make it difficult for foreign investors to do it."
The association warns that mining investment in Indonesia may drop below $1 billion this year, adding that there may be no fresh projects as metal prices fall and miners await details of the new mining bill including the divestiture provision.
The government is more upbeat, saying mining and geothermal investment could hit $2.24 billion, up from $1.6 billion in 2008.
GOING PUBLIC?
One of the main obstacles for a foreign investor is finding a buyer, as shown by Newmont's experience with its unit, NNT, which operates the Batu Hijau copper and gold mine in Sumbawa.
Under its contract of work, Newmont must sell 51 percent of its shares in the unit to local investors, with the finance ministry having first right of refusal on all the share sales.
The Indonesian authorities said Newmont had not sold its shares quickly enough, even though the finance ministry did not take up the offer to buy the shares because of limited funds and other spending priorities, leading to a dispute.
An arbitration court ruled earlier this month that Newmont must sell a 17 percent stake to the government within 180 days.
"It is easy for the law to mandate companies to sell their shares but when there is no buyer, what should they do?" said Parsons. "The regulations should anticipate various scenarios."
One solution, analysts suggest, is to allow foreign investors to list shares in the local venture on the stock exchange.
That strategy was used by PT International Nickel Indonesia Tbk -- in which Brazil's Vale Inco Ltd has a 60.8 percent stake -- when it sold a 20 percent stake in an initial public offering in 1990.
The government is now drafting the implementing regulations for the new law, including regulations on divestiture.
"We are discussing various options, including whether to release miners from the obligation to divest their shares if they cannot find buyers within a certain period," said an energy and mines ministry official, who asked not to be identified by name.
Source: http://uk.reuters.com/article/rbssIndustryMaterialsUtilitiesNews/idUKJAK50340220090427?sp=true
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Saturday, 16 May 09
FREIGHT MARKET HAS BEEN EXTREMELY BUOYANT - VISTAAR SINGAPORE
COALspot.com (Singapore): The week saw the BDI rally continuing and the market freight market has been extremely buoyant, VISTAAR Shipping Pte Limit ...
Friday, 15 May 09
INDIKA EXPECTS TO INCREASE COAL PRODUCTION BY 12.68% IN 2010 - THE JAKARTA POST
ENERGY and infrastructure company PT Indika Energy, the parent company of Indonesia's third largest coal producer PT Kideco Jaya Agung, expects its ...
Thursday, 14 May 09
INDONESIA 2009 COAL OUTPUT REVISED DOWN - REUTERS
* Indonesia coal output seen at 240 million tonnes in 2009
* Coal exports down 11.2 pct to 44.79 mln tonnes in Q1 2009
* Production down 1.4 pct t ...
Thursday, 14 May 09
PAKISTAN WILL IMPORT 3.2 MILLION TON OF COAL IN 2009 - SEATRADE
COALspot.com (Pakistan) - SEATRADE Group of pakistan a single largest imported coal supplier in Pakistan, forecasting Pakistan steam coal imports wi ...
Wednesday, 13 May 09
ADARO, ITM EXPECT COAL GROWTH IN 2009
Adaro, which has a market capitalization of $3.64 billion, sells to 48 customers in 18 countries worldwide, including power utilities Thai Power and ...
|
|
|
Showing 6751 to 6755 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Minerals Council of Australia
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- The University of Queensland
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- White Energy Company Limited
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
|
| |
| |
|
