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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, 12 June 09
THERMAL COAL PRICE REMAINS STABLE IN SHANXI - STEEL GURU
It is reported that coming into June, no major changes are seen in coal supply-demand relations in Shanxi province. Statistics of Qinhuangdao port, ...
Thursday, 11 June 09
PT NALCO PLANS TO CONSTRUCT COAL-FIRED POWER PLANT IN SOUTH SUMATRA - ENERGY BUSINESS REVIEW
PT Nalco (National Aluminium Company Limited), an Indian-based company, plans to construct a coal-fired power plant in South Sumatra. The company in ...
Thursday, 11 June 09
COAL PRODUCERS TO SEE BOOST IN DEMAND FROM ASIA PACIFIC - JAKARTA POST
The Jakarta Post reported that, at the recent 15th Coaltrans conference in Bali, we noted concerns related to rising oil prices at a faster pace tha ...
Wednesday, 10 June 09
BHP TO CUT 450 JOBS AT INDONESIAN COAL PROJECT - REUTERS
Reuters reported that, BHP Billiton Ltd will lay off all 450 workers at its Indonesian coal project after deciding not to go ahead with the pr ...
Monday, 08 June 09
PTC INDIA TO ACQUIRE COAL MINES IN AUSTRALIA, INDONESIA - PTI NEWS
PTI reported that, State-owned Power Trading Corp today said it would acquire coal properties overseas and has identified mines in Australia and Ind ...
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- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Planning Commission, India
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
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