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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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Friday, 10 February 12
TONNAGE KEEPS ON COMING - DREWRY
Drewry Maritime Research’s latest edition of its Dry Bulk Forecaster pulls no punches in its assessment of a market that looks certain to cont ...
Friday, 10 February 12
GIVE PERMIT POWERS TO GOVERNORS: MINERS - THE JAKARTA POST
The Jakarta Post reported that, following clashes between mining companies and local residents, the Indonesian Mining Association (IMA) wants to tra ...
Thursday, 09 February 12
AUSTRALIA'S EPIC TO ACQUIRE 15,500 HA COAL EXPLORATION LICENCES IN EAST KALIMANTAN, INDONESIA
COALspot.com - Epic Resources Limited to acquire two coal concessions in Kutai Barat regency, East Kalimantan, Indonesia.
According to company's ...
Thursday, 09 February 12
RESOURCE ALAM BUYS 28,521HA CONCESSIONS - INSIDER STORIES
Insider Stories reported that, PT Resource Alam Indonesia Tbk (KKGI), owned by Adijanto family, today announced acquisition of 75% interest in PT Ka ...
Tuesday, 07 February 12
DRY BULK MARKET FINALLY STOPS DECLINE, POSTS FIRST RISE IN MORE THAN A MONTH - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After falling to near record lows, not seen since the mid-80s the dry bulk market has finally stopped its path to "hell", with the industr ...
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- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- The University of Queensland
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- VISA Power Limited - India
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