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Monday, 25 January 10
INDONESIAN GOVERNMENT TO ISSUE REGULATION FOR IMPLEMENTATION OF MINERAL AND COAL MINING BUSINESS ACTIVITIES LAW NO.4 / 2009 SOON
 COALspot.com (Indonesia): The government regulation concerning implementation of mineral and coal mining business activities Law no.4 / 2009 is expecting to issue anytime in January / February 2010. The government will address coal benchmark price issues and share divestment issues in this upcoming regulation to attract more new investment in the mining sector. The government is planning also to issue 4 new regulations attached to the new mining and coal law in 2010.
SHARE DIVERSTMENT
Holders of IUP or IUPK whose 100% shares (hundred percent) are owned by foreigners, is obliged to divest at least 20% (twenty percent) their shares directly to the Government, local government, state enterprises, enterprises, or national private enterprise. A divestment shall be made not later than 90 (ninety) working days of the end of fifth year of production of mine. The Government, the regional governments, State-Owned Entities, and Region-owned Entities must submit their expression of interest within 60 (sixty) working days from the date of offer received.
If the Government and the Regional Governments are disinterested in the purchase of divested shares then, the shares shall be offered to national private entities within 30 (thirty) working days. Payment and delivery of the purchased shares by the Indonesian participants shall be made within 90 (ninety) working days of the date of expression of interest. If there is no party interested to buy offered shares within time frame then, divestment shall be made in the following year.
| "100% foreigners owned coal mines, are obliged to divest at least 20% of its shares to Indonesians end of 5th year of production" |
Ancillary provisions on share divestment shall be governed by Regulation of the Minister, which will be expecting to follow government regulation.
COAL BENCHMARK PRICE
The Minister of Energy and Mineral Resources, shall determine benchmark prices for coal. Any coal sale by IUP / IUPK holders, must obtain approval from the Minister prior to sales. Ancillary provisions on determination of benchmark coal prices shall be governed by separate ministerial regulation. IUP/IUPK holders also obligate to report to the Minister, the governors or the regents/mayors at least (1) once a month, accompanied by documents/conclusive proofs supporting their production and sales.
The report must includes selling prices, sales volume, quality of coal and supply point.
A benchmark steam (thermal) coal price shall be determined with reference to the average coal prices indexes published by internationally acknowledged institutions.
Benchmark coal prices shall be determined basis Free on Board (FOB) Mother vessel. If a delivery point of coal sale is not FOB Mother vessel, then coal prices must reflect benchmark price added with or deducted by adjustment of cost approved by the Minister. (cs)
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Tuesday, 26 January 10
AUSTRALIAN FIRM TO MINE COAL IN WEST BENGAL
India Resources Ltd (IRL), a mining firm listed on the Australian Stock Exchange, has decided to enter into contract mining of coal in
India ...
Monday, 25 January 10
MINING GROUPS MAY SEEK JUDICIAL REVIEW OF 2009 LAW
Indonesia’s mining associations said on Wednesday that they planned to seek a judicial review of the 2009 Mining Law this year if they are una ...
Monday, 25 January 10
DUQM IWPP'S COAL REQUIREMENTS PROJECTED AT 3MT PER YEAR
Oman's first coal-fired Independent Water and Power Project (IWPP) planned at Duqm is envisaged to have a feedstock requirement of around 3 million ...
Monday, 25 January 10
THE FUTURES FOR CAPE, PANAMAX AND SUPRAMAX FOR THREE YEARS (2010 - 2012) WAS AT AROUND US$ 32,000, US$ 20,000 AND US$ 17,000 PER DAY RESPECTIVELY
COALspot.com ( Singapore): The freight market remained flat this week the market slight soft.
BDI INDEX
The BDI was down by 95 points and closed ...
Saturday, 23 January 10
COAL CAMARADERIE
Union coal minister Shriprakash Jaiswal feels Asian countries should join hands in developing minerals, particularly coal.
At the third Asian Min ...
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- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Posco Energy - South Korea
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
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