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Wednesday, 07 March 12
INDONESIA TO LIMIT FOREIGN OWNERSHIP IN MINES TO 49 PERCENT WITHIN 10 YEARS OF PRODUCTION
COALspot.com - Foreign holders of mining licenses in Indonesia have to divert 51% of their stakes to Indonesian government or domestic entities within 10 years of starting production, according to a decree (PP 24/2012) signed by President of Indonesia on Feb. 21.
According to regulation, foreign holders of mining licenses are required to offer their first 20% stakes diversion to Indonesian party within a period no later than 90 (ninety) calendar days after 5 (five) years receipt of mining license (IUP operation and production).
Foreign mining license holders are required to offer their stakes to government of Indonesia, provincial government, local government district / city, state owned enterprises first prior to offer domestic private entities. According to regulations, the government, local government or state owned enterprises have to expressed interest at the latest within 60 (sixty) calendar days from the date of bidding.
In the event the government and the provincial government or local government district / city, state, and local enterprises are not interested to buy divested shares, then the shares can be offered to domestic private enterprises in a period of at least 30 (thirty) calendar days.
Domestic private enterprises have to express their interest at least within 30 (thirty) calendar days after the date of bidding. If domestic private enterprise have decided to buy the shares, then the payment and transfer of purchased shares has to be completed at the latest within 90 (ninety) calendar days after the date finalization of the purchase of shares.
However, If the divestment is not reached within the period stated in the regulation 24/2012, the diversion of shares can be made in the following year.
7th Year of production of completion or 6th years of receipt of IUP OP license, the foreign owners of mines are required to divert an another 10% or total 30% of total stakes and 8th years of production 7% stakes diversion, by 9th year of production another 7% and finally 10th years of production 51% of total stakes must hold by either Indonesian government, local government district / city, state enterprises, or national private entities.
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Wednesday, 07 March 12
3RD MOZAMBIQUE COAL CONFERENCE
3rd Mozambique Coal Conference
2-4 July 2012 | Joaquim Chissano International Conference Centre , Maputo, Mozambique
http://www.immevents.com/mo ...
Wednesday, 07 March 12
DRY BULK MARKET KEEPS UP TIMID REBOUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its rising momentum yesterday, rising for the eighth straight session, on the back of renewed demand for smaller bulk c ...
Wednesday, 07 March 12
BUKIT ASAM EYES 39% RISE IN COAL SALES - INSIDER STORIES
Insider Stories reported that, PT Bukit Asam Tbk is scouting a 39% increase in coal sales volume to 18.66 million tons this year from last year with ...
Wednesday, 07 March 12
PETROSEA SEALS US$188 MIO CONTRACT - INSIDER STORIES
Insider Stories reported that, coal mining contractor PT Petrosea Tbk has secured a US$188 million additional contract from its affiliated firm PT S ...
Monday, 05 March 12
SOUTHGOBI ANNOUNCES AGREEMENT TO SELL ITS THERMAL COAL TSAGAAN TOLGOI DEPOSIT FOR US$ 30 MILLION
SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) announced today an agreement to sell its thermal coal property, the Tsagaan Tolgoi Deposit to Modun Re ...
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- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- VISA Power Limited - India
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
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