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Friday, 13 April 12
S&P CAUTIONS AGAINST NEW INDONESIAN MINING REGULATIONS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Investors may have expressed concerns about looming new mining regulations, but ratings agency Standard & Poor’s says it doubts the government will implement them strictly.
“Whether the government of Indonesia will follow up on its hard-line stance is still a question,” the ratings agency said in its latest report on mining.
However, S&P added that “our ratings on mining companies operating in Indonesia have long factored in the country’s evolving regulations. Therefore, our credit outlook on the sector remains stable.”
The government this year issued a series of controversial mining regulations, including plans for an ore export ban, higher royalties, a ceiling on foreign ownership of mining assets, a required upgrade in coal quality before export and so-called “contract of work” renegotiations.
“Not a week has passed without government officials calling for additional royalties, a review of ownership rules or a more equal redistribution of mineral wealth,” S&P said in the report.
Industry Minister M.S. Hidayat was on Thursday quoted by Reuters reiterating an earlier statement by his ministry that the government is studying a 25 percent tax on mining exports this year that will become a 50 percent tax in 2013.
S&P said that if the move is strictly implemented, it “would undeniably hurt Indonesian mining companies as well as international companies that have mining operations in Indonesia. It would raise the cost of doing business in the sector and lessen its attractiveness to investors.”
The ratings agency said that it believed “the government of Indonesia will take a pragmatic approach while implementing mining regulations, given the sector’s economic importance.”
Last year, the government received $6.5 billion in taxes and royalties from mining companies, constituting 5 percent of total government revenue.
Dileep Srivastava, the investor relations director at large coal miner Bumi Resources, expressed concern about the tax.
“If this is enacted, some of our metals and minor coal assets may be vulnerable,” he said.
“But it is premature to form any view yet.”
Source: The Jakarta Globe
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Wednesday, 14 March 12
GLOBAL THERMAL TRADE FLOW CHANGES WILL ENSURE SECURITY OF THERMAL COAL SUPPLY, ALBEIT AT A HIGH PRICE - WOOD MACKENZIE
Wood Mackenzie Says Global Thermal Trade Flow Changes Will Ensure Security of Thermal Coal Supply, Albeit At a High Price Seaborne thermal demand by ...
Wednesday, 14 March 12
COKAL TAKES ANOTHER STEP IN DEVELOPING INFRASTRUCTURE TO FACILITATE METALLURGICAL COAL PRODUCTION
Global coal group, Cokal Limited (ASX-CKA), has signed Memorandums of Understanding (MoU’s) to develop two river ports and two small scale coa ...
Tuesday, 13 March 12
CLARIFICATION OF GR 24 OF 2012 REQUIRING DIVESTMENT OF FOREIGN OWNERSHIP OVER TIME
ASX Announcement
Global metallurgical coal group, Cokal Limited (ASX-CKA), is responding to the recent announcement of the Indonesian Ministry of ...
Tuesday, 13 March 12
EUROPEAN COAL CONTANGO: FURTHER STEEPNESS REQUIRED TO MAKE LARGE SCALE PHYSICAL TIME SPREAD ARBITRAGE MORE ATTRACTIVE - MISWIN MAHESH, BARCLAYS CAPITAL
COALspot.com - "With the contango between the Y+1 and M+1 ARA delivered contract now averaging above the $14/t level, there is an increasing in ...
Monday, 12 March 12
DELTA DUNIA 1M OVERBURDEN DROPS 3.1% - INSIDER STORIES
Insider Stories reported that, Indonesia's second largest coal mining contractor PT Delta Dunia Makmur Tbk (DOID) reported a 25 million bank ...
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- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- ASAPP Information Group - India
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
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