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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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Sunday, 26 April 09
MITRA HOPES TO SECURE DEALS WITH TWO COAL FIRMS BY JUNE - THE JAKARTA POST
An integrated oil and gas services company, publicly listed PT Mitra Rajasa, is expecting to seal acquisition deals with two coal companies in June, ...
Sunday, 26 April 09
INDONESIAN GOVT SAYS COAL MINES CAUSE WEEKLONG FLOOD - THE JAKARTA POST
Samarinda administration in East Kalimantan admitted openly Thursday that the weeklong flood that paralyzed the city was caused by unruly management ...
Saturday, 25 April 09
INDO TAMBANGRAYA MEGAH ALLOCATED USD 126 MILLION FOR CAPITAL SPENDING - MAJALAH TAMBANG
Somyot Ruchirawat, President Director of PT Indo Tambangraya Megah, Tbk (ITMG), has announced the company's total dividend payment of Rp 1,345 per ...
Saturday, 25 April 09
MINING SECTOR IS STILL ON THE SURPLUS - THE JAKARTA POST
The global financial crisis is apparently also having an impact on the mining sector. People are thinking twice about investing in the mining sector ...
Saturday, 25 April 09
ADARO RUNS CATARACT OPERATION PROGRAM - THE JAKARTA POST
As part of its CSR program, thermal coal producer PT Adaro Indonesia has made cataract operations available to residents of Tandjung district, South ...
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- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Australian Coal Association
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- The University of Queensland
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Planning Commission, India
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
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