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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, 04 June 09
ASIA COAL - PRICES RISE TO 31/2 MTH HIGH ON OIL, ECONOMY - INTERACTIVE INVESTOR
Interactive Investor reported that, Prices of power-station coal from Australia, a benchmark for Asia, rose to a three-and-a-half-month high of over ...
Thursday, 04 June 09
PTT: RESTRUCTURING BUSINESS, DIVERSIFYING INTO COAL - EASYBOURSE
Thailand's largest energy conglomerate, PTT PCL (PTT.TH), will diversify into coal as part of its business restructuring, Senior Executive Vice Pre ...
Thursday, 04 June 09
ADARO SECURES THREE NEW CONTRACTS, SAYS OUTLOOK POSITIVE - THE JAKARTA POST
Publicly listed PT Adaro Energy, the country's second largest coal miner, announced Wednesday it had secured three new coal contracts from buyers f ...
Wednesday, 03 June 09
XSTRATA, KOMIPO AGREE SOME '09 COAL TONNAGE AT $63/T- REUTERS
South Korean utility Korea Midland Power Co (KOMIPO) has agreed to buy part of its 2009 term contract tonnage from Xstrata's coal unit at about $63 ...
Wednesday, 03 June 09
KOSEP SEEKS UP TO 3 MLN TONNES OF COAL - REUTERS
Korea South-East Power Co Ltd (KOSEP) has issued four tenders seeking a total of 3 million tonnes of coal for delivery between 2009 to 2011, a tende ...
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- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
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