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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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Thursday, 18 June 09
INDIKA GETS APPROVAL ON PETROSEA ACQUISITION
PT Indika Energy, the country’s third-biggest miner, said on Wednesday that its shareholders had approved its plan to acquire an 81.95 percent ...
Thursday, 18 June 09
MORE FUNDS FOR COAL VIDESH ASSET BUY
The government plans to let Coal Videsh, a subsidiary of Coal India, have more than Rs 1,000 crore at its disposal to shop for assets abroad.
&ld ...
Wednesday, 17 June 09
MINE EXPLOSION'S DEATH TOLL HITS 30 - (UPDATE 1 )
Search and rescue workers have discovered the bodies of 30 miners who were killed in a coal mine explosion in the West Sumatra regency of Sawahlunto ...
Wednesday, 17 June 09
S.KOREA UTILITIES INK '09 COAL CONTRACTS WITH CHINA
* S.Korea to buy 3 mln tonnes of coal from China at $78.50/T
* Talks between individual power firms and miners ongoing
South Korean utilities ...
Wednesday, 17 June 09
MINE BLAST KILLS NINE, BURIES DOZENS
A major mine explosion near Sawahlunto city, West Sumatra, Tuesday, killed at least nine people while more than 30 were buried and are feared ...
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- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Marubeni Corporation - India
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Planning Commission, India
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
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