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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, 30 June 09
ARCELORMITTAL, RIO, 8 OTHERS VIE FOR COAL INDIA MINES
Coal India Ltd. short-listed ArcelorMittal, Rio Tinto Group and eight other companies to develop its abandoned mines to help ease a shortage of coal ...
Monday, 29 June 09
INDONESIA PLANS 20 PCT FOREIGN MINING SALE LAW
Indonesia plans to require foreign investors in mining firms to gradually divest shares starting from the fifth year of commercial production, but m ...
Monday, 29 June 09
CHINA ENJOYS STABLE COAL ECONOMY IN THE FIRST FIVE MONTHS OF 2009
In the first five months of the year, China's raw coal production had continued to rise, and coal market stayed in a balance in terms of supply-dem ...
Monday, 29 June 09
GOVERNMENT FINE TUNES MINING LAW
The government is planning to require all foreign-owned mining companies to divest 20 percent of their businesses to local entities after five years ...
Sunday, 28 June 09
INDIA CEMENTS TO INVEST RS 1,500 CR OVER 2 YEARS
Chennai-based India Cements is planning to invest around Rs 1,500 crore over the next two years for setting up a greenfield project in Rajasthan, po ...
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- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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