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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
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Tuesday, 21 April 09
INDONESIAN GOVT TO ALLOW UNDERGROUND MINING IN PROTECTED FORESTS - THE JAKARTA POST
The government will issue a regulation allowing mining companies to carry out underground mining in protected forests.
"This regulation will ...
Tuesday, 21 April 09
INDONESIAN GOVT LIKELY TO MISS INVESTMENT TARGETS FOR ENERGY, MINING - THE JAKARTA POST
The total value of investments in energy and mining sectors by the end of the year is likely to be below the government’s target, as a result of ...
Monday, 20 April 09
INDONESIAN COAL MINING ASSOCIATION CALLED TO CONTROL MINERS - MAJALA TAMBANG
The Indonesian Coal Mining Association (ICMA) is called to expand its membership further in view of controlling the conduct of miners in the nationa ...
Monday, 20 April 09
BANPU PLANS TO SHIP 2 MLN T COAL TO CHINA IN 09 - REUTERS
Banpu, Thailand's largest coal miner, plans to increase coal shipments to China by about 30 percent to 2 million tonnes in 2009, company officials ...
Monday, 20 April 09
INDO TAMBANGRAYA 2009 OUTPUT TO GO UP 16% - THE JAKARTA POST
Indonesia's third largest coal producer, publicly listed PT Indo Tambangraya Megah (ITM), is targeting to raise production by 16 percent this year ...
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- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Australian Coal Association
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
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