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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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Friday, 19 June 09
COAL FORUM TO MEET IN BALI NEXT WEEK
Bali will host next week a Southeast Asian forum on coal, involving coal producers, consumers and government representatives.
The Indonesian Ener ...
Friday, 19 June 09
KARNATAKA POWER CORP BEGINS BLENDING INDONESIAN COAL
BL reported that the State Government owned power utility Karnataka Power Corporation Limited has begun blending imported Indonesian coal for its th ...
Thursday, 18 June 09
COAL MINING HALTS AFTER DEADLY BLAST - (UPDATE 2)
All mining activists in Sawahlunto, West Sumatra, are at a standstill after a major underground explosion killed at least 31 miners and buried 12 ot ...
Thursday, 18 June 09
INDIA'S HINDALCO CLOSE TO BUYING AUSTRALIA COAL MINE
India's largest aluminium maker Hindalco Industries is close to acquiring a coal mine in Australia, for about $70-$80 million, The Economic Times r ...
Thursday, 18 June 09
GERMAN COAL BUYERS SEE LOWER IMPORTS, PRICES
* Coal imports and prices fall as steel industry slumps
* Coal industry grapples with carbon polluter image
German imports of hard coal are like ...
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- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- MS Steel International - UAE
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Bhatia International Limited - India
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
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