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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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Tuesday, 21 April 09
INDONESIAN GOVT TO ALLOW UNDERGROUND MINING IN PROTECTED FORESTS - THE JAKARTA POST
The government will issue a regulation allowing mining companies to carry out underground mining in protected forests.
"This regulation will ...
Tuesday, 21 April 09
INDONESIAN GOVT LIKELY TO MISS INVESTMENT TARGETS FOR ENERGY, MINING - THE JAKARTA POST
The total value of investments in energy and mining sectors by the end of the year is likely to be below the government’s target, as a result of ...
Monday, 20 April 09
INDONESIAN COAL MINING ASSOCIATION CALLED TO CONTROL MINERS - MAJALA TAMBANG
The Indonesian Coal Mining Association (ICMA) is called to expand its membership further in view of controlling the conduct of miners in the nationa ...
Monday, 20 April 09
BANPU PLANS TO SHIP 2 MLN T COAL TO CHINA IN 09 - REUTERS
Banpu, Thailand's largest coal miner, plans to increase coal shipments to China by about 30 percent to 2 million tonnes in 2009, company officials ...
Monday, 20 April 09
INDO TAMBANGRAYA 2009 OUTPUT TO GO UP 16% - THE JAKARTA POST
Indonesia's third largest coal producer, publicly listed PT Indo Tambangraya Megah (ITM), is targeting to raise production by 16 percent this year ...
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- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- PTC India Limited - India
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- The University of Queensland
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
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