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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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Tuesday, 07 July 09
RICHARDS BAY TERMINAL COAL EXPORTS ROSE 7.2% IN JUNE
Richards Bay Coal Terminal Ltd., Africa’s largest coal-export facility, said shipments rose 7.2 percent in June from a year earlier.
Export ...
Tuesday, 07 July 09
INDIKA ENERGY COMPLETES THE ACQUISITION OF PETROSEA
TAMBANG reported that, PT Indika Energy, Tbk has officially announced that it has completed the acquisition of PT Petrosea, Tbk. from Clough Interna ...
Tuesday, 07 July 09
RUSSIAN AUDITORS ATTACK COAL EXPORTERS OVER PRICING
Russia's budget is losing substantial revenues because the country's exporters ship coal overseas at artificially low prices through various offsh ...
Tuesday, 07 July 09
RBCT COAL EXPORTS TO REMAIN BELOW CAPACITY IN 2009
Coal volumes railed to South Africa’s Richards Bay Coal Terminal are continuing to fall far short of the corridor’s nameplate yearly cap ...
Tuesday, 07 July 09
TATA POWER AID THE INDONESIAN COAL MINES
BL reported that Mr Prasad Menon MD of TATA Power aid the Indonesian coal mines PT Kaltim Prima Coal and PT Arutmin Indonesia in which TATA Power ha ...
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- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
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