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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, 13 June 09
CLEARLY THE DRIVER FOR DRY BULK MARKET SEEMS TO BE IMPORTS BY CHINA - VISTAAR SINGAPORE
COALspot.com (Singapore): The market saw mixed results last week. The beginning of the week saw the indices dropping including the futures , however t ...
Friday, 12 June 09
SOUTH SUMATERA SPEEDS UP INTERNATIONAL HARBOR CONSTRUCTION - TEMPO INTERACTIVE
The South Sumatera Government will speed up construction of the international harbor Tanjung Api-Api. The harbor is a strategic entry point for comm ...
Friday, 12 June 09
CHINA SHENHUA NOT EYEING NEW FOREIGN COAL MINES - MEDIA
China Shenhua Energy Co Ltd , the top Chinese coal miner, will not consider buying any major overseas mines before it starts operating the Watermark ...
Friday, 12 June 09
CHINA TOP POWER COS SIGN REGIONAL COAL DEALS - REUTERS
China's top five power generating groups have signed 2009 coal supply contracts with miners in Guizhou and Xinjiang, with prices up 4 percent on th ...
Friday, 12 June 09
MERCATOR LINES TARGETS 30 MILLION TONNE FROM MOZAMBIQUE COAL MINE - STEEL GURU
India’s second largest private shipping company Mercator Lines has targeted production of 30 million tonnes of coal from its Mozambique mine o ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- VISA Power Limited - India
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Planning Commission, India
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Economic Council, Georgia
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
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