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Wednesday, 21 October 09
MINING REGULATION GENERATES CONFUSION IN INDONESIA
 The Jakarta Globe reported that, Mining industry representatives said on Friday they were confused by a recently issued regulation restricting the work contractors were allowed to perform for mining concessionaires, saying it failed to clearly explain what contractors could and could not do.
Industry representatives said that Article 10 of the Sept. 30 regulation, which provides that “the holder of a mining concession or special mining concession must itself perform mining, processing, and refining work,” was particularly problematic, as much of this work was currently carried out by contractors.
The regulation could cause problems for multinational contractors like PT Thiess Indonesia, a unit of Brisbane-based Thiess, which is employed as a mining contractor by PT Bumi Resources, Asia’s biggest thermal coal producer. Article 5 also provides that contracting work must be given to domestic companies for a first right of refusal before foreign companies could be involved.
A Thiess representative was not available for comment.
One analyst said that if the regulation was implemented to the letter, many contractors and concessionaires would find themselves in trouble, as they would have to radically reorganize their operations.
Sara K Loebis, corporate secretary of PT United Tractors, the country’s largest supplier of heavy equipment, said her company was also confused by the regulation.
“We’re unsure about the difference between ‘stripping,’ which the regulation allows us to do, and mining, which we are prohibited from doing, as it’s frequently very difficult to differentiate between the two,” she said. “Our legal team is currently studying the regulation.”
United Tractors is the parent of PT Pamapersada Nusantara, the country’s biggest mining contractor.
Alwinsyah Loebis, president director of PT Aneka Tambang, the state-owned gold and copper miner, said that his company’s legal department was also studying the regulation.
Dileep Srivastava, senior vice president of Bumi Resources, the country’s biggest coal producer and one of the Pamapersada’s main employers, said he was not aware of the regulation and would have to study it first before commenting.
When asked for clarification about whether mining contractors could continue to perform main mining work, Bambang Setiawan, the director general of coal, minerals and geothermal energy, gave an inconclusive response.
“I am not saying they can. As long as they follow all of the requirements in Article 10. What is the process of mining? It’s digging, stripping, blasting and transporting. I think that’s all clear enough. What more do they want?”
Edwin Sinaga, president director of brokerage PT Finacorporindo Nusa, said the new regulation was intended to prevent small, local government-issued concessions from being sold to contractors, which was already a widespread practice here.
Source: The Jakarta Globe
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Thursday, 24 September 09
S.KOREA HYUNDAI STEEL TO BUY COAL FROM SIBERIA
Reuters reported that, South Korea's Hyundai Steel said on Wednesday it will buy a maximum of 300,000 tonnes of coal per year from Siberian Anthrac ...
Thursday, 24 September 09
NO IMPORTED COAL-BASED UMPPS: TATA POWER
Will wait until policy environment becomes more favourable.
Business Standard reported that, Tata Power Company (TPC), India’s largest priv ...
Thursday, 24 September 09
BUMI RAISES $1.9 BILLION SELLING DEBT TO CHINA'S CIC
Bloomberg reported that, PT Bumi Resources, Indonesia’s biggest coal producer, said it raised $1.9 billion selling debt to China’s sover ...
Thursday, 24 September 09
MACQUARIE DOWNGRADES U.S. COAL SECTOR TO NEUTRAL
Reuters reported that, Macquarie Research downgraded the U.S. coal sector to "neutral" from "overweight" as it believes that dem ...
Thursday, 24 September 09
CHINA WILL BE IMPORTER OF COKING COAL NEXT YEAR, MCCLOSKEY SAYS
Bloomberg reported that, China, the world’s largest coal user and producer, will remain an importer of the fuel through next year, according t ...
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- Miang Besar Coal Terminal - Indonesia
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- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
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- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
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- Ministry of Finance - Indonesia
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- Trasteel International SA, Italy
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- Leighton Contractors Pty Ltd - Australia
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- Vedanta Resources Plc - India
- Central Electricity Authority - India
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- The Treasury - Australian Government
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- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
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- Electricity Authority, New Zealand
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- Baramulti Group, Indonesia
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- Ministry of Transport, Egypt
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- Semirara Mining Corp, Philippines
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- Holcim Trading Pte Ltd - Singapore
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- Romanian Commodities Exchange
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- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
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- Eastern Coal Council - USA
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- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
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- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
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- Metalloyd Limited - United Kingdom
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- Coastal Gujarat Power Limited - India
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- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
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- Wilmar Investment Holdings
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