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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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Tuesday, 21 February 12
THREAT ISSUED ON MINERAL FIRMS AS GOVT PLANS EXPORT BAN - THE JAKARTA POST
The Jakarta Post, one of the leading english news papaer in Indonesia reported that, the government has given mineral producers three months to subm ...
Monday, 20 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU
The dry market experienced one more disappointing week with tonnage oversupply and limited cargo demand that pushes earnings for shipping players to ...
Monday, 20 February 12
JATENERGY SECURES FIRST 8000-TONNE COAL SALES CONTRACT FOR JONGKANG MINES
8000-tonne contract with Singaporean buyer signed for March delivery
50% down payment due in five working days
Production continues at both Jongka ...
Monday, 20 February 12
DIAN SWASTATIKA ACQUIRES ANDALAN LESTARI - INSIDER STORIES
Insider Stories reported that, PT Dian Swastatika Sentosa Tbk (DSSA), controlled by Fuganto Widjaja, son of Indra Widjaja, reported a 99.83% takeove ...
Monday, 20 February 12
COAL BOOM AND ENVIRONMENTAL CONCERN - SUNIL K KUMBHAT
COALspot.com - The dawn of the 21st century has seen a shift in the world's commercial balance of power, with the dominance of the US, Europe and J ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Petron Corporation, Philippines
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- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
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- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
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- Gujarat Electricity Regulatory Commission - India
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- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
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- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
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- ICICI Bank Limited - India
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- The State Trading Corporation of India Ltd
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- Altura Mining Limited, Indonesia
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- Directorate General of MIneral and Coal - Indonesia
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- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Central Electricity Authority - India
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
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- Tamil Nadu electricity Board
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- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
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- Power Finance Corporation Ltd., India
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- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
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- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
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- The University of Queensland
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
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- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
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- London Commodity Brokers - England
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- Eastern Energy - Thailand
- Vedanta Resources Plc - India
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- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Bhushan Steel Limited - India
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
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- SMC Global Power, Philippines
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
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- India Bulls Power Limited - India
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- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
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