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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, 27 June 09
HEAVY CONGESTION AT AUSTRALIAN PORTS REACHING ALL TIME HIGH TO 120 SHIPS IN EAST COAST AUSTRALIA - VISTAAR SHIPPING
COALspot.com (Singapore): The market this week was a bit soft and the BDI was down by almost 10 pct and closed at 3,703 points.
The drop in BDI i ...
Friday, 26 June 09
INDONESIA INVESTORS EYE BHP BILLITON COAL PROJECT
About four Indonesian investors are interested in taking over a coal project owned by BHP Billiton Ltd, a senior government mining official said.
...
Friday, 26 June 09
SOUTH AFRICA'S CONSULTING GROUP OPENS OFFICES IN CHINA, INDONESIA
Consulting engineering company SRK Consulting has opened new offices in Asia to cope with the growing demand for its services in the region.
The ...
Friday, 26 June 09
RUSSIA MECHEL TO DELIVER 2 MLN T COKING COAL TO ASIA
Russian steel and coal producer Mechel said on Thursday it had signed contracts to deliver about 2 million tonnes of coking coal concentrate to unna ...
Friday, 26 June 09
SA COAL EXPORTS UNLIKELY TO BREACH 65MT THIS YEAR
Coal volumes railed to South Africa’s Richards Bay Coal Terminal (RBCT) during the rain-affected first quarter of 2009 had fallen well short o ...
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- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- The University of Queensland
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
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