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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, 06 June 09
COAL PRICE HIT RECORD ON STRONG CHINA DEMAND - INVESTMENT WATCH
Investment watch reported that, “Coal price hit a new high of over $72 a tonne at Australia’s Newcastle Port, a benchmark for Asia, spur ...
Friday, 05 June 09
CEMENT INDUSTRY NEEDS POLICY ON FLY ASH
H.M. Bangur, President of Cement Manufacturers' Association, on the objectives and economic impact of the proposed national policy on utilisation o ...
Thursday, 04 June 09
PAKISTAN TO IMPORT MORE COAL FROM INDONESIA - SEATRADE
COALspot.com (Pakistan): Richards bay to Pakistan sea freight has touched US$ 20.00 for 40,000/10 pct steam size in June 2009. South African c ...
Thursday, 04 June 09
CHINA'S SHANXI PROVINCE CONSIDERS COAL FUTURES BOURSE - MINE WEB
Mine Web reported that, China hopes to establish a coal futures exchange to obtain more rights on international pricing.
China's largest coal pr ...
Thursday, 04 June 09
CHINA QINHUANGDAO COAL STOCK JUMPS BY 36.2% MOM - STEELGURU
SteelGuru reported that, Sources indicated that, coal stock at Qinhuangdao port, China's major coal port has reached 4.88 million tonnes increasing ...
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- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- The University of Queensland
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Planning Commission, India
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
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