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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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Thursday, 26 January 12
ABM INVESTAMA SEALS US$100 MIO CONTRACT - INSIDER STORIES
Insider Stories reported that, PT Reswara Minergi Hartama, a subsidary of PT ABM Investama Tbk (ABMM), has sealed a 2 million tons of coal export co ...
Thursday, 26 January 12
DRY BULK MARKETS DOWNFALL KNOWS NO LIMITS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s demise seems to have no visible end, as China’s Lunar Year Holidays continue this week, thus leaving demand with n ...
Wednesday, 25 January 12
CLEAN AND CLEAR MINING PERMITS TO BE COMPLETED END OF 2012 - BISNIS.COM
Bisnis.com reported that, the government plans to announce 700 mining permits with "clean and clear" status without overlapping on other p ...
Tuesday, 24 January 12
ANOTHER SEVERE DROP IN THE CAPESIZE - BRS
The lunar year celebrations and the high number of new building deliveries (more than 35 Capes so far in January as owners push 2011 deliveries into ...
Tuesday, 24 January 12
BUKIT ASAM FY11 NET PROFIT SURGES 50% - INSIDER STORIES
Insider Stories reported that, the state-controlled PT Bukit Asam Tbk (PTBA) estimated to book Rp3 trillion (approximately US$ 335,570,469) net prof ...
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- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- PTC India Limited - India
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- White Energy Company Limited
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
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