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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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Saturday, 04 July 09
S. AFRICA'S RICHARDS BAY TO CAP NEW COAL VOLUMES, MININGMX SAYS
South Africa’s Richards Bay Coal Terminal is proposing restrictions on the quotas it awards to coal exporters from the so-called Phase 5 expansi ...
Saturday, 04 July 09
DALRYMPLE BAY COAL TERMINAL EXPANSION COMPLETE
BABCOCK & Brown Infrastructure has completed expansion of the Dalrymple Bay Coal Terminal (DBCT) near Mackay, Queensland.
The terminal is now ...
Friday, 03 July 09
CHINA SHENHUA TO DOUBLE COAL CAPACITY BY 2014-PAPER
China Shenhua Energy Co Ltd plans to double its annual coal production capacity by 2014 from this year's level, the China Securities Journal report ...
Friday, 03 July 09
UKRAINE CUTS COAL PRODUCTION 9.3 PERCENT IN H1
Ukraine reduced coal production approximately 9.3%, or by 3.673 million tonnes, to 35.879 million tonnes in the first half of 2009 compared to the s ...
Thursday, 02 July 09
PETCOKE BOOMS AS CEMENT MAKERS TRY TO REPLACE COAL
* Cement makers led by Asia chase petcoke to replace coal
* Petcoke prices up $10/T Feb-Jun, set to rise further
* Domestic U.S. petcoke demand ma ...
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- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Australian Coal Association
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
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