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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 $500 million nickel project in North Maluku in Indonesia.
WHAT ABOUT LEGAL CERTAINTY FOR MINING?
Legal certainty is a key issue for investors in Indonesia's mining sector and the government has been involved in a number of disputes with foreign mining companies.
PT Newmont Nusa Tenggara, an Indonesian unit of Newmont Mining Corp., and the government went to arbitration over a dispute on divestment.
The two sides are still negotiating over price after the government ordered Newmont to sell 17 percent of its shares to the Indonesian government within six months.
Source: Reuters
(http://www.reuters.com/article/marketsNews/idUSJAK48046320090707?sp=true)
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Tuesday, 07 July 09
ECONOMIC SURVEY 2008-09 OPEN UP COAL TO FUEL POWER PLANTS
TOI reported that the coal ministry's efforts at opening doors for full private entry through open bidding in coal mining got a boost, with the Eco ...
Tuesday, 07 July 09
POWER - STATION COAL MAY RISE ON CHINA DEMAND, SUPPLIES, UBS SAYS
Power-station coal prices in Asia may increase in 2010 because of higher demand from China, the second-largest energy-consuming nation, and supply c ...
Saturday, 04 July 09
FREIGHT FUTURE FOR 3 YEARS UNTIL 2012 WAS FAIRLY SOFT AROUND PANAMAX / US$ 16,000, SUPRAMAX / US$ 13,000 PER DAY
COALspot.com (Singapore): According to Vistaar shipping, an experinced ship operator in Singapore, the freight market was soft with bit nervousness ...
Saturday, 04 July 09
CHINA BUYS 17% OF MINER TECK RESOURCES FOR $1.5 BILLION
* To sell 17.2 percent stake to China Investment Corp
* To raise proceeds of C$1.74 bln
* Shares rise 3.2 percent (Adds details. In U.S. dol ...
Saturday, 04 July 09
MINING CONTRACT SOUGHT FOR COAL AREA IN MASBATE
Because of its coal deposits, a town in Masbate is one of the sites in the country being sought out for exploration and development by mining compan ...
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- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Planning Commission, India
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- The University of Queensland
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
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