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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, 29 December 09
PROFIT IN COAL INDUSTRY DOWN 9.4% Y-O-Y IN JAN.- NOV.
In November, China's coal production was 289mln tons, up 26.3% year on year, an increase of 5.2% over last month. China's average daily trucks loa ...
Tuesday, 29 December 09
DHARMA HENWA EYES 20% REVENUE GROWTH
Local integrated mining services provider PT Dharma Henwa, which was earlier this year acquired by coal mining giant PT Bumi Resources, expects reve ...
Monday, 28 December 09
NEED TO IMPORT COAL COMES EARLY
Viet Nam may need to start importing coal as early as 2012, three years earlier than expected, to meet its electricity demands.
The Viet Nam Coal ...
Monday, 28 December 09
GOVT EYES $3.57B MINING, GEOTHERMAL INVESTMENT
The country can expect up to US$3.57 billion in investment in mining and geothermal energy next year, which would represent an increase by more than ...
Monday, 28 December 09
INDONESIAN MINER LINKED TO FUGITIVE FINANCIER
The Energy Ministry is unlikely to approve the transfer of ownership of coal miner PT Riau Baraharum on allegations it is indirectly owned by fugiti ...
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- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Australian Coal Association
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
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