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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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Saturday, 25 April 09
KPC DEVELOPS EAST KALIMANTAN WITH GOVT - THE JAKARTA POST
Kaltim Prima Coal (KPC) focuses on several areas in its CSR projects to help the government increase the welfare of the community living around the ...
Friday, 24 April 09
NAPOCOR TO TENDER FOR 195,000 T COAL - ABS-CBNNEWS.COM
Top Philippine electricity producer National Power Corp. (Napocor) said on Friday it will hold a tender on May 20 to buy 195,000 tons of steam coal ...
Friday, 24 April 09
NTPC TO DELVE INTO CONTRACT MINING - ECONOMICTIMES
NTPC, India’s largest power producer, plans to cash in on its decades-old experience in handling coal mines by spinning off a separate u ...
Wednesday, 22 April 09
PROTECTED FORESTS FACING UNDERGROUND MINING THREAT - THE JAKARTA POST
The government is soon to issue a presidential regulation allowing mining companies to mine underground in protected forest areas, despite a recent ...
Tuesday, 21 April 09
MITRA RAJASA TO ACQUIRE TWO MINING COMPANIES - THE JAKARTA POST
PT Mitra Rajasa Tbk plans to acquire PT Realita Jaya Mandiri and PT Masindo Artha Resources in South Sumatra, which are worth around US$40 million.
...
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- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Australian Coal Association
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
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