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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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Wednesday, 03 June 09
POWER DEMAND TO BOOST INDIA COAL IMPORTS DURING MONSOON - STEELGURU
Reuters quoted Indian coal importers said that strong demand for power in India is likely to keep coal imports at the maximum level possible in the ...
Wednesday, 03 June 09
NAPOCOR EXTENDS COAL TENDER FOR SOLE BIDDER - ABS CBNNEWS
National Power Corp. (Napocor), the top Philippine electricity producer, has given the lone bidder at a tender for 195,000 tons of coal more time to ...
Wednesday, 03 June 09
NEWCASTLE COAL EXPORTS JUMP 20 PERCENT; SHIP QUEUE LENGTHENS - BLOOMBERG
Coal exports from Australia’s Newcastle, the world’s biggest export harbor for the fuel, jumped 20 percent last week while the number of ...
Wednesday, 03 June 09
IPL-2 OVER, INDIAN COAL LEAGUE BEGINS IN SOUTH AFRICA - ECONOMICTIME
Steel, cement and power companies, which have traditionally relied on cheap Indonesian coal to fuel their factories, are rushing to buy South Africa ...
Wednesday, 03 June 09
BUILDING A ROAD TO LINK 3 GIANTS - THE JAKARTA GLOBE
Madhu Koneru is building a road to the future that will bring together the financial heft of the Middle East, the technological know-how of a rising ...
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- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- PTC India Limited - India
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Australian Coal Association
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- India Bulls Power Limited - India
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- ASAPP Information Group - India
- MS Steel International - UAE
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