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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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Saturday, 19 December 09
THE FUTURES FOR 2010 - 2012 FIRMED UP COMPARED TO LAST WEEK AND WAS AT AROUND CAPE US$ 28,000 PER DAY - VISTAAR
COALspot.com (Singapore): The freight market continued to soften this week with major drop in the cape size index by almost 21 pct and Panamax , Sup ...
Friday, 18 December 09
CARGOTEC WINS IBJ'S BEST SHIP LOADING / UNLOADING SYSTEM AWARD WITH SIWERTELL
Cargotec’s Siwertell ship unloader has recently won International Bulk Journal’s best ship loading/unloading system award for 2009; out ...
Friday, 18 December 09
THERMAL COAL PROJECT MOVES AHEAD
A proposal for Australia's largest thermal coal project in Queensland's central west has taken a step forward.
Hancock Prospecting is proposing ...
Friday, 18 December 09
CHURCHILL MINING COMPLETES FEASIBILITY STUDY FOR EAST KUTAI COAL PROJECT
Churchill Mining Plc has announced the completion of the feasibility study for its flagship project, the 75% held East Kutai coal project in Indones ...
Friday, 18 December 09
COKING COAL SHORTAGE IN CHINA TO SPUR DEMAND FIGHT WITH JAPAN
China, the world’s largest steelmaker, faces a shortage of coking coal that may drive imports next year and spur a fight for resources with Ja ...
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- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Minerals Council of Australia
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- The University of Queensland
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Planning Commission, India
- Ministry of Mines - Canada
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