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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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Thursday, 24 December 09
EUROSEAS LTD. ANNOUNCES TWO-YEAR TIME CHARTER AGREEMENT FOR PANAMAX BULK CARRIER
Euroseas Ltd., an owner and operator of drybulk carriers and container vessels and provider of seaborne transportation for dry bulk and containerize ...
Wednesday, 23 December 09
INDONESIA POWER CHIEF TO BUILD PLANTS OUTSIDE JAVA
Indonesia's state electricity firm plans to build new power plants outside Java island with a combined capacity of around 2,000 megawatts to resolv ...
Wednesday, 23 December 09
BUKIT ASAM SEES CHINA COAL DEMAND BOOST
* Rebound in prices to have pushed up 2009 revs
* To more than double Tarahan port capacity
Reuters reported that, Indonesian state-owned coal m ...
Wednesday, 23 December 09
MACARTHUR COAL OFFERS TO BUY RIVAL GLOUCESTER
Queensland-based Macarthur Coal will offer to buy fellow Australian Gloucester Coal, in a move to add two new mines and increase coal resources.
...
Tuesday, 22 December 09
CHINA CONTRACTED COAL PRICE FOR 2010 SEES SLIGHT INCREASE
A number of coal and power enterprises have concluded their annual power-coal supply contracts for 2010, and the contracted coal price saw slight in ...
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- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
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