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Saturday, 25 April 09
FOREIGN SHARE DIVESTMENT STARTING THE 6TH YEAR OF PRODUCTION - MAJALAH TAMBANG
The government would set a divestment scheme for foreign miners, which would require companies to divest their ownership starting the 6th year of production. The divestment process would be arranged to gradually reach a total sum of 20% by the end of the 9th year. The technical arrangement for the divestment scheme has been included in the government regulation draft (RPP in its Indonesian abbreviation) as an implementation of the new Mining Law (Law No.4/2009).
S. Witoro Soelarno, Secretary of the Directorate General of Mineral, Coal and Geothermal – Ministry of Energy and Mineral Resources, explained that the divestment’s percentage sum and timetable would also take the interest of the related mining companies into account.
Article 112, Section 1, of the Mining Law stipulated that after 5 years of production, Mining Permit (IUP in its Indonesian abbreviation) and Special Mining Permit (IUPK in its Indonesian abbreviation) owner, whose shares owned by foreigners, are obliged to divest their shares to national entities. The national entities referred to are including central government, local government, state owned enterprises (BUMN in its Indonesian abbreviation), province owned enterprises (BUMD in its Indonesian abbreviation), or national private enterprises.
Some has considered that the regulation might be a threat for investors, since the mining business is long term in nature and that it would require extra budget. If investors must divest their shares in just five years period, they might face a financial trouble because no one would guarantee the expected return for their business.
“The condition would certainly caused difficulties and hesitation for the investors to invest their capital,” M Fadhil Hasan, an economist from the Institute for Development of Economic and Finance (INDEF), asserted.
Nevertheless, Witoro argued that the government would arrange the divestment scheme in the best manner, through the government regulation draft that is currently being prepared.
Source: http://www.majalahtambang.com/detail_berita.php?category=15&newsnr=1404
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Wednesday, 29 April 09
NEW GOV'T REGULATION SHOULD INCORPORATE CONFLICT SETTLEMENT BODY - ICMA (MAJALAH TAMBANG)
A draft government regulation on mineral and coal is currently in a process of completion. The Indonesian Coal Mining Association (ICMA) proposed th ...
Tuesday, 28 April 09
S'PORE COURT RULES AGAINST DEUTSCHE ON ASSET SALE - REUTERS
Singapore's highest court has ruled that Deutsche Bank (DBKGn.DE) may have to pay unspecified damages to an investment firm as it did not get the b ...
Tuesday, 28 April 09
WORLD THERMAL COAL PRICE EXPECTED TO CRASH - PURCHASING.COM
Macquarie Bank sees 50% drop to $60/ton in 2009
Macquarie Bank today forecast the 2009 average market price for world thermal coal at $60/ton, a ...
Tuesday, 28 April 09
THAI LANNA TO OPEN NEW INDONESIAN MINE BY Q3 - REUTERS
Thailand's Lanna Resources PCL LANN.BK said on Monday it planned to open a new coal mine in Indonesia by the third quarter of 2009 with an initial ...
Tuesday, 28 April 09
SOUTH AFRICAN EXPORT COAL RETREATS ON WEAKER EUROPEAN DEMAND - BLOOMBERG
Prices for coal shipped from South Africa’s Richards Bay, site of the world’s largest export terminal for the fuel, fell for a second co ...
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- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- White Energy Company Limited
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Planning Commission, India
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- The University of Queensland
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Energy Development Corp, Philippines
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