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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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Thursday, 09 July 09
GARDA LISTS SHARES IN LOCAL BOURSE
Local coal company PT Garda Tujuh Buana officially listed its shares in the Indonesia Stock Exchange (IDX).
The listing followed the company's p ...
Thursday, 09 July 09
COAL AND OIL GROUP TO INVEST $300 MN TO BUY SHIPS AND ACQUIRE COAL MINE
Coal & Oil Group is planning to invest around $300 million (around Rs 1,500 crore) to buy new ships and to acquire coal mines. The company is pl ...
Thursday, 09 July 09
NO TRADE ON AUSTRALIA'S ASX COAL FUTURES DEBUT
*ASX's deliverable thermal coal futures debut without trade
*ASX says futures could present new arbitrage opportunities
The debut of Australia ...
Wednesday, 08 July 09
GERMAN COAL PRODUCTION DECREASED BY 31% TO ROUND 3.4 MILLION TON IN 1Q 2009 - COAL IMPORTERS ASSOCIATION, HAMBURG
COALspot.com (Germany):
World Coal Market
According to analysis of VEREIN DER KOHLENIMPORTEURE E.V. , On a quantity basis the s ...
Wednesday, 08 July 09
HUADIAN POWER BUYS INTO COAL MINERS
Huadian Power International Corporation - China's largest independent power producerCannounced Tuesday in a filing to the Shanghai Stock Exchange ...
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- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- White Energy Company Limited
- PTC India Limited - India
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
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