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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 $500 million nickel project in North Maluku in Indonesia.
WHAT ABOUT LEGAL CERTAINTY FOR MINING?
Legal certainty is a key issue for investors in Indonesia's mining sector and the government has been involved in a number of disputes with foreign mining companies.
PT Newmont Nusa Tenggara, an Indonesian unit of Newmont Mining Corp., and the government went to arbitration over a dispute on divestment.
The two sides are still negotiating over price after the government ordered Newmont to sell 17 percent of its shares to the Indonesian government within six months.
Source: Reuters
(http://www.reuters.com/article/marketsNews/idUSJAK48046320090707?sp=true)
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Tuesday, 02 June 09
GOVT FINALIZING DMO MECHANISM, REFERENCE PRICE FOR COAL - THE JAKARTA POST
Indonesia, the world's largest thermal coal exporter, is finalizing regulations on a reference price on coal, on a domestic market obligation (DMO) ...
Tuesday, 02 June 09
CHINA OVERSEAS COAL DEMAND TO STAY BUOYANT-MINERS (REUTERS)
China's demand for overseas coal is expected to stay strong in the second half as long as prices of imported coal maintain a discount to domestic p ...
Tuesday, 02 June 09
INDONESIA'S COAL EXPORTS REACH US$ 3.44 BILLION SO FAR THIS YEAR - TRADINGCHARTS
Indonesia`s coal exports in the January-April 2009 period increased by 21.31 per cent to US$3.44 billion compared to US$2.83 billion in the same per ...
Tuesday, 02 June 09
INDONESIA'S BUKIT ASAM AGREES HIGHER COAL PRICES - REUTERS
Indonesian state coal miner PT Bukit Asam Tbk said it has agreed coal prices for two power plants owned by state electricity firm PT Perusahaan List ...
Tuesday, 02 June 09
ADARO MAY RAISE COAL SALES TO CHINA, INDIA PLANTS - THE JAKARTA GLOBE
PT Adaro Energy, the country’s second-largest coal producer, may increase sales of power-plant coal to China and India on signs of a global ec ...
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- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- PTC India Limited - India
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Minerals Council of Australia
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