We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Saturday, 25 April 09
MINING SECTOR IS STILL ON THE SURPLUS - THE JAKARTA POST
The global financial crisis is apparently also having an impact on the mining sector. People are thinking twice about investing in the mining sector, especially in companies that carry a high risk, such as those in the exploration business.
Stock prices in numerous countries, including in Indonesia, have declined. From the percentage point of view, the decline in the combined stock price index at the Indonesian Stock Exchange has been rather drastic. The financial crisis has also affected the energy and mineral resources sector.
As investors are reluctant to invest in exploration companies, the effects will be felt in three years when there are no new discovery or mining reserves. What then is the future of the mining sector in Indonesia after the worldwide economic downturn?
"The future of mining in Indonesia is still bright as no company here has experienced any losses due to the global financial crisis. This is quite a relief," said the vice chairman for energy and mineral resources of the Indonesian Chamber of Commerce and Industry (Kadin), Herman Afif Kusuma, in Jakarta on April 14.
According to Herman, it would be wrong to say that a number of mining companies have experienced losses due to the crisis when in fact they have simply made less profit. "Indeed, there is a reduction in profit during booming times, but there aren't any mining companies that have experienced losses due to the crisis," said Herman.
The chairman of the Indonesian Mining Community (MPI) said that there was no reason for mining companies here to lay off employees, even less so if they use the global financial crisis as a reason. "We must be on guard against such things," he stressed.
He acknowledged, however, that the mineral sector had received a hard blow, while the energy sector was experiencing no problems because selling prices were relatively normal.
The hardest hit companies are the major foreign investors, such as PT Freeport and PT Inco, but they have not experienced any losses.
Herman explained that mining companies that purchased concessions two or three years ago were experiencing problems amid the crisis as prices for mining products had significantly dropped.
He also admitted, however, that the global crisis had made most investors adverse to investing in the mining sector, so that infrastructure development had been shelved.
He also mentioned that the lack of legal certainty had a negative impact on investments in the mining sector. He explained that the Mineral and Coal Law leaves a number of questions unanswered for foreign investors, including the change in contract mechanism from government-to-business to business-to-business, meaning contracts will not be awarded by the government but by a business entity formed by the government. There is also a question regarding the continuation of contracts that were awarded to investors before the new Mineral and Coal Law comes into effect.
However, Herman was optimistic that after the Mineral and Coal Law comes into effect it would attract foreign investment in the domestic mining sector.
So far, at least three foreign investors have expressed interest in investing, namely Rio Tinto, BHP and a Russian company. The Mineral and Coal Law, which replaces Law No. 11/1967, can accommodate the interests of many parties and defines the authority of the central government and regional administrations.
Meanwhile, Indonesian Coal Mining Association (APBI) chairman Jeffrey Mulyon recently said that the global financial crisis was having an impact on the domestic mining sector and all parties needed to formulate the best solution so that domestic mining companies do not collapse.
Anticipation is important as the mining sector makes a huge contribution to the Indonesian economy by employing millions of people. Data as per September 2008 shows that the mining sector contributed 11.54 percent to the nation's Gross Domestic Product (GDP) amounting to Rp 142.1 trillion. If many mining companies go bankrupt, then the government would have another heavy burden as unemployment would increase.
He said that the crisis should not be taken too lightly or be regarded simply as a business matter. The decline of coal, oil and gas prices are not due to faults within the industry, and therefore mining companies should be saved for the benefit of regional economies.
Previously, Indonesian Statistics Agency (BPS) chairman Rusman Heriawan said that in the first quarter of 2009, there would be a decline in processing, mining and exploration activities. However, other sectors face brighter prospects, such as farming, finance, rental business and service companies.
In the meantime, PricewaterhouseCoopers Indonesia (PwC) reported that although the mining industry here recorded good financial results in 2007, new exploration projects were few.
"Indonesia has less geological attractiveness," said technical advisor of PwC for the mining sector Sacha Winzenried recently.
However, Winzenried stated that this sector had made a large contribution to state revenue. In 2007, the sharp increases in mining commodity prices generated huge profits.
What is unfortunate though is that the huge profits between 2002 and 2007 were mostly from sharp increases in commodity prices and not from the expansion of mining activities.
Source: http://www.thejakartapost.com/news/2009/04/24/mining-sector-still-surplus.html
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Sunday, 26 April 09
MITRA HOPES TO SECURE DEALS WITH TWO COAL FIRMS BY JUNE - THE JAKARTA POST
An integrated oil and gas services company, publicly listed PT Mitra Rajasa, is expecting to seal acquisition deals with two coal companies in June, ...
Sunday, 26 April 09
INDONESIAN GOVT SAYS COAL MINES CAUSE WEEKLONG FLOOD - THE JAKARTA POST
Samarinda administration in East Kalimantan admitted openly Thursday that the weeklong flood that paralyzed the city was caused by unruly management ...
Saturday, 25 April 09
FOREIGN SHARE DIVESTMENT STARTING THE 6TH YEAR OF PRODUCTION - MAJALAH TAMBANG
The government would set a divestment scheme for foreign miners, which would require companies to divest their ownership starting the 6th year of pr ...
Saturday, 25 April 09
INDO TAMBANGRAYA MEGAH ALLOCATED USD 126 MILLION FOR CAPITAL SPENDING - MAJALAH TAMBANG
Somyot Ruchirawat, President Director of PT Indo Tambangraya Megah, Tbk (ITMG), has announced the company's total dividend payment of Rp 1,345 per ...
Saturday, 25 April 09
ADARO RUNS CATARACT OPERATION PROGRAM - THE JAKARTA POST
As part of its CSR program, thermal coal producer PT Adaro Indonesia has made cataract operations available to residents of Tandjung district, South ...
|
|
|
Showing 6791 to 6795 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Planning Commission, India
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Australian Coal Association
- Economic Council, Georgia
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
|
| |
| |
|
