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Monday, 29 June 09
INDONESIA PLANS 20 PCT FOREIGN MINING SALE LAW
 Indonesia plans to require foreign investors in mining firms to gradually divest shares starting from the fifth year of commercial production, but may relax this if no buyers are found, an official said on Monday.
A new mining law passed in December requires foreign investors to sell shares to either the government, state-owned enterprises, and/or a local private entity.
In a draft regulation to the law, the government has proposed that foreign investors would have to gradually sell 20 percent after the fifth year of commercial production, Bambang Gatot Ariyono, director of coal and mining at the energy ministry, said.
"Each year, foreign shareholders will sell 5 percent and if they fail to do so, it will be accumulated in the following year," Ariyono told reporters at a seminar on the new law.
"We proposed the (20 percent) figure since it balances the interests of investors and the government," he said, adding the regulation would not apply to mining projects where the life span was less than five years.
The previous mining law, which dates from 1967, did not require foreign firms to divest although in some cases foreign mining firms were required under their contract to sell shares.
The issue has led to several disputes involving global firms.
PT Newmont Nusa Tenggara (NNT), a unit of Newmont Mining Corp, which operates the Batu Hijau copper and gold mine in Sumbawa, was ordered in April to sell part of its stake to the government after an arbitration ruling following a prolonged dispute.
In 2003, Rio Tinto and BP were also embroiled in a long legal battle over the sale of a stake in PT Kaltim Prima Coal (KPC).
Priyo Pribadi Soemarno, executive director of the Indonesian Mining Association, which represents foreign and local mining interests, said the 20 percent figure was acceptable.
"But it needs to clearly set out how to determine share prices, the source of funds and the local investors that are eligible to buy the shares," he added.
Analysts have warned that the new divestment rule may stifle foreign investment if it did not address key issues such as finding local buyers, which is an obstacle for foreign shareholders when trying to meet divestment regulations.
Ariyono said the new rule would not apply a penalty to miners who were unable to find buyers, although the foreign firm would still be obliged to carry out a sale when a buyer was found.
"Investors must carry out divestment until it finds a buyer but there won't be any risk of default," he said, adding that the rule would be applied flexibly to remain attractive to investors.
Foreign investors, who have a local partner owning more than 20 percent, would be exempted from the obligation, Ariyono added.
Aviliani, an economist a local thinktank INDEF, said allowing foreign investors to list shares in their mining project on the stock exchange was a possible option to avoid such conflict.
"The government does not have to buy the shares, they can go public. It will attract people to invest because the process is more transparent," said Aviliani, who uses one name like many Indonesians.
This strategy was used by PT International Nickel Indonesia Tbk in which Brazil's Vale Inco Ltd has a 60.8 percent stake -- when it sold a 20 percent stake in an initial public offering in 1990.
Source: Reuters (http://www.reuters.com/article/rbssIndustryMaterialsUtilitiesNews/idUSJAK48641220090629?sp=true)
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Thursday, 02 July 09
PETCOKE BOOMS AS CEMENT MAKERS TRY TO REPLACE COAL
* Cement makers led by Asia chase petcoke to replace coal
* Petcoke prices up $10/T Feb-Jun, set to rise further
* Domestic U.S. petcoke demand ma ...
Wednesday, 01 July 09
NEWCASTLE WEEKLY COAL EXPORTS RISE BY 12PCT
Bloomberg reported that Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, gained 12% last ...
Wednesday, 01 July 09
RS 6,000CR MMTC COAL IMPORT PLAN UNDER CLOUD
The plan of MMTC Ltd, a trading firm under the commerce ministry, to import coal worth Rs 6,000 crore has come under cloud, with the Central ...
Wednesday, 01 July 09
INDONESIAN FIRM BIDS FOR 130,000T COAL FOR NAPOCOR
Top Philippine electricity producer National Power Corp. (Napocor) said on Wednesday it received two bids from Indonesia's PT Trubaindo and its loc ...
Wednesday, 01 July 09
COAL PRICE INDEX TO BE LAUNCHED IN JULY
India will soon get a coal index to track the coal price movement in the country.
India's leading e-commerce company Mjunction Services Ltd will ...
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- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Australian Coal Association
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- MS Steel International - UAE
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Aditya Birla Group - India
- London Commodity Brokers - England
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- The University of Queensland
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
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