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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, 16 December 09
INDONESIA'S FIRST PRIVATE RAILWAY TO BOOST RAK'S MINING INTERESTS
MEC infra to invest $1b in construction of 130-km transport link
A 130-kilometre railway that will ease the transport of raw materials and finish ...
Tuesday, 15 December 09
KOMIPO HAS ISSUED A NEW TENDER FOR 30000 MT OF 5200 NAR KCAL/KG COAL
COALspot.com (South Korea): South Korean state-owned utility Korea Midland Power (KOMIPO) has issued an new tender for prompt supply of 30000 M ...
Tuesday, 15 December 09
CHINA CUTS IMPORT DUTIES ON COAL, RAISES FOR OTHERS
China will lower import duties on more than 600 products next year, including coal, naphtha and phosphate ore, the Finance Ministry said on Tuesday. ...
Tuesday, 15 December 09
NTPC'S COAL WOES UNLIKELY TO END SOON
State-owned power producer NTPC’s woes over shortages of coal may not end soon. Though the company is importing 12.5 million tonnes of coal&nb ...
Monday, 14 December 09
RICHARDS BAY COAL TO FINISH EXPANSION IN 1ST QUARTER
Richards Bay Coal Terminal, which ships more than a quarter of Europe’s energy coal, said it will complete its Phase 5 expansion project in th ...
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- Coastal Gujarat Power Limited - India
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- Economic Council, Georgia
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- Indian Energy Exchange, India
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- The University of Queensland
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- Standard Chartered Bank - UAE
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- PTC India Limited - India
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- McConnell Dowell - Australia
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- Coal and Oil Company - UAE
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- Anglo American - United Kingdom
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- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- White Energy Company Limited
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
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- London Commodity Brokers - England
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- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
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- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Minerals Council of Australia
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- Coalindo Energy - Indonesia
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- India Bulls Power Limited - India
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- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
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- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
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- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
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- GMR Energy Limited - India
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
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- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
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- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
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- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
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- International Coal Ventures Pvt Ltd - India
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