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Tuesday, 07 July 09
Q+A - INDONESIA MINING SECTOR FACES ELECTION RISKS - REUTERS
 Indonesia has struggled to lure foreign investment to its mining sector in recent years, and the nationalist line on resource exploitation taken by politicians ahead of Wednesday's presidential election has hardly helped.
The mining industry is also awaiting details of regulations in a new mining law passed last year which was aimed at squeezing more from the country's rich mineral resources.
President Susilo Bambang Yudhoyono, who is widely expected to be returned to power, is seen as more open to foreign investment than his challengers, Megawati Sukarnoputri and Jusuf Kalla.
Here are some questions and answers on mining and the election.
IS INDONESIA GROWING MORE NATIONALISTIC OVER ITS RESOURCES?
Megawati has said she would take a tougher stance in contract negotiations with foreign resource firms if elected, singling out the Grasberg copper mine in Papua run by a unit of Freeport McMoRan Copper & Gold for criticism.
Kalla has also said that "unfair" contracts with foreign resource companies should be re-negotiated.
The Yudhoyono administration, however, has previously said it would respect contracts.
Analysts say a more nationalistic stance on resources is no surprise during an election period, but it could mean Indonesia loses out on investment later on, particularly given the current scarcity of global capital.
WHAT ARE THE RISKS OVER THE NEW MINING LAW?
The government is currently drafting regulations on the law for presidential approval and has said it plans to issue them by October before a new government takes office.
Issuing the regulations is seen as crucial to give certainty to investors. In the case of an oil and gas law passed in 2001, it took three years to issue the implementing regulations.
The new mining law means that investors will be put on shorter-term mining permits rather than longer-term contracts of work, while they will also have to process minerals in Indonesia and to set aside some of their coal for the domestic market.
Foreign investors will also have to divest to local players some of their shares in a mining project after a period.
Investors want clarity on all of these issues, particularly to ensure that previously agreed contracts of work are respected.
The plan to oblige coal-mining firms to set aside coal for local consumption has also sparked concerns among buyers over the long-term availability of coal from the world's top thermal coal exporter.
Details are still sketchy on the percentage coal producers must set aside, the price they will receive, and arrangements for producers who do not mine coal that is suitable for domestic use.
WHAT IS THE OUTLOOK FOR NEW FOREIGN MINING INVESTMENT?
The government has frozen new mining permits until the regulations are finalised and if they are not implemented by October there is a risk of further delays under a new government.
Either way, mining firms and experts say the mining law in its current form may not offer enough certainty to attract major new investment. The previous contract of work system was seen as more secure than the new licences, while the new law also limits the size of mining areas, also less attractive for big miners.
However, more smaller projects, which often run for a shorter period and need less capital, could go ahead under the new law.
The Indonesian Mining Association has said mining investment would fall below $1 billion this year due to uncertainty over the new mining law, although the government says investment from mining -- including geothermal -- could surpass $2 billion.
Some foreign companies have shelved investment plans since last year. BHP Billiton scrapped a study to develop an integrated nickel project in eastern Indonesia and also decided it would not go ahead with a coal mine in Central Kalminantan. Tsingshan Mineral Company Ltd had scrapped a $500 million nickel project in North Maluku in Indonesia.
WHAT ABOUT LEGAL CERTAINTY FOR MINING?
Legal certainty is a key issue for investors in Indonesia's mining sector and the government has been involved in a number of disputes with foreign mining companies.
PT Newmont Nusa Tenggara, an Indonesian unit of Newmont Mining Corp., and the government went to arbitration over a dispute on divestment.
The two sides are still negotiating over price after the government ordered Newmont to sell 17 percent of its shares to the Indonesian government within six months.
Source: Reuters
(http://www.reuters.com/article/marketsNews/idUSJAK48046320090707?sp=true)
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Wednesday, 15 July 09
BANGLADESH TO IMPORT COAL FROM INDIA FOR 1 MORE YR
Bangladesh has decided to import coal from neighbour India for another year to save foreign exchange and time, a commerce ministry official said on ...
Wednesday, 15 July 09
INDONESIAN FIRM SUBMITS LOWEST BID FOR NAPOCOR COAL
ABS-CBN News reported that, An Indonesian firm offered to supply 195,000 tons of thermal coal to top Philippine electricity producer National Power ...
Wednesday, 15 July 09
INDIAN COAL MINISTRY TO CONSIDER POWER PLANT ALTERATION PROPOSALS
PTI reported that the coal ministry has agreed to consider applications of power plants seeking long term coal linkage due to enhancement in electri ...
Wednesday, 15 July 09
SHENHUA STARTS WORK ON INDONESIA POWER PLANT
Bloomberg reported that China Shenhua Guohau Power a unit of China’s biggest coal producer started construction of a power plant and mine in I ...
Wednesday, 15 July 09
PLN OPENS TENDERS FOR SUPPLY OF LOW - GRADE COAL
The Jakarta Globe, a Indonesian new paper reported that, State power utility PT PLN has opened a tender for the supply of low-grade coal for the nat ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
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- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
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- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- White Energy Company Limited
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- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
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- Bukit Makmur.PT - Indonesia
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- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
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- Cement Manufacturers Association - India
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- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
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- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
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- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Romanian Commodities Exchange
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- Ind-Barath Power Infra Limited - India
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- Indogreen Group - Indonesia
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- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
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- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
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- Trasteel International SA, Italy
- PowerSource Philippines DevCo
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- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Australian Coal Association
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
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- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Economic Council, Georgia
- The University of Queensland
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Planning Commission, India
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
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- Iligan Light & Power Inc, Philippines
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