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.
|
|
Tuesday, 12 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 ...
Tuesday, 12 May 09
BANPU'S PROFIT DOUBLES TO RECORD AFTER SALES JUMP - BLOOMBERG
BANPU Pcl, Thailand’s biggest coal producer, reported first-quarter profit more than doubled to a record after higher prices for the fuel boos ...
Tuesday, 12 May 09
COAL IN PLACE, GMR PLANS 2,000-MW THERMAL PLANT - BUSINESS-STANDARD
GMR ENERGY, a subsidiary of Bangalore-based infrastructure company GMR Infrastructure Ltd, is planning to set up a 2,000-Mw thermal power plant near ...
Monday, 11 May 09
SOUTH AFRICA PROBLEMS SLOW INDIA COAL BUYING - MINE WEB
Indian imports of South African coal are likely to be close to 12 million tonnes in 2009, up from 10 million last year.
Indian coal buyers were a ...
Saturday, 09 May 09
THE WEEK SAW BIT OF HECTIC ACTIVITY IN THE FREIGHT MARKET - VISTAAR SHIPPING
COALspot.com (Singapore) : VISTAAR Shipping Pte Limited, one of the experienced ship operator in Singapore, said, the week saw bit of hectic ac ...
|
|
|
Showing 6761 to 6765 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- The Treasury - Australian Government
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Planning Commission, India
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
|
| |
| |
|
