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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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Wednesday, 06 January 10
BUMI SHARES UP AS OVERALL PERFORMANCE BEATS PREDICTIONS
The world’s largest thermal coal exporter PT Bumi Resources saw its shares jump 10 percent to Rp 2,675 ($29 US cents) on Tuesday after the com ...
Wednesday, 06 January 10
INDIA MAY HAVE BECOME TOP BUYER OF SOUTH AFRICAN COAL
India may have overtaken Europe for the first time as the biggest purchaser of South African coal in 2009, according to Raymond Chirwa, Richards Bay ...
Wednesday, 06 January 10
COAL PEAK RECEDES INTO THE FAR DISTANCE
COALspot.com (German): Coal will be available to mankind as an energy source for the next 120 years.
The German Coal Importer Association has ca ...
Tuesday, 05 January 10
SUPRAMAX MARKET REMAINED QUIET OVER THE LAST 10 DAYS BRS - DRY BULK
Despite a damp end to the year for bulk rates, shipping has weathered the storm far better than was initially expected in the wake of the financ ...
Tuesday, 05 January 10
WINTER WEATHER SPIKES COAL PRICES - CHINA UPDATE
Cold weather is driving coal prices higher and will lend the advantage in annual negotiations to suppliers, analysts said, predicting that the risin ...
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- Central Electricity Authority - India
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- White Energy Company Limited
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
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- Chamber of Mines of South Africa
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