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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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Monday, 28 December 09
SOMALI PIRATES SAY $4 MILLION RANSOM PAID FOR COAL SHIP
A helicopter dropped a $4 million ransom payment on Sunday on to the deck of a Chinese coal ship hijacked by Somali pirates in mid-October, a pirate ...
Saturday, 26 December 09
COAL INDIA, RIO TINTO MAY HOLD TALKS SOON ON TIE-UP
State owned Coal India Limited (CIL), which is in the race for acquisition of overseas coal properties to plug the demand supply shortfall of the dr ...
Saturday, 26 December 09
COKING COAL PRICES MAY RISE BY 10 - 15% FROM APRIL 2010
The price of coking coal, one of the key raw materials for steel production, is likely to increase by 10-15% in next April, the month in which m ...
Saturday, 26 December 09
COAL INDIA SECURES TWO BLOCKS IN MOZAMBIQUE
It's official now. Mozambique has awarded two coal acreages in its Maotize region with an estimated one billion tonne reserves to Coal India Ltd bu ...
Thursday, 24 December 09
DRY BULK CHARTERING - SHIPPING UPDATE
Handy
Continued firm conditions for the Handymax / Supramax market in the Atlantic despite the BSI´s downward trend. As chrs scramble to cov ...
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- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- White Energy Company Limited
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
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