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Wednesday, 18 May 11
OVERHAUL OF MINING LAW MAY DETER INVESTMENT, S&P SAYS - THE JAKARTA GLOBE
The Jakarta Globe, an Indonesian English language news paper reported that, A report by Standard & Poor’s Ratings Services that a regulatory overhaul of Indonesia’s mining industry would hurt companies’ performance received mixed reviews from industry players on Tuesday.
The report, “Indonesia’s Mining Law of 2009 and Subsequent Regulations: Unearthing the Impact,” explored how the law would affect companies in the country’s mining sector.
Credit analyst Xavier Jean said he did not anticipate any immediate implications for the rating of mining companies since Standard & Poor’s ratings already incorporated degrees of regulatory risk.
“Some regulatory provisions have direct implications for the revenue, profitability, capital expenditure and cash flow of mining companies in Indonesia,” Jean said. “Besides increasing operating uncertainty for Indonesian mining companies, we believe the new regulations may also make the industry less attractive to foreign investors.”
Increased operating costs, possible delays in awarding mining licenses because of decentralized decision-making and requirements for greater domestic processing were among the factors that could weight on profits.
He also said the regulatory environment was “still evolving, and the implementation of government regulations passed so far may differ somewhat from their original forms.”
Under the 2009 law, regional governments will issue mining licenses instead of the central government. It also reduced the lifespan of the new regulations to 20 years, down from 40 years in the previous law, and required miners to set aside 25 percent of their production for sale in Indonesia.
Bimo Budi Satriyo, corporate secretary of Aneka Tambang, Indonesia’s largest gold and nickel producer, said the law was an opportunity and a challenge.
“I think the regulation is good because the government does not want companies to only sell natural resources,” he said. “There will be added value for minerals, and in the end that will create a multiplier effect that can improve the economy within the region.”
Aneka Tambang already has a number of mineral processing projects in the works, Bimo continued, including a bauxite refinery in West Kalimantan and three smelters in South Sulawesi.
Bob Kamandanu, chairman of the Indonesian Coal Mining Association (APBI) and a commissioner of Berau Coal, said the shorter lifetime of the regulations created uncertainty.
“Coal mining is a long-term business. Twenty years is too short,” he said.
Sudharta, spokesman for state coal miner Perusahaan Tambang Batubara Bukit Asam, said he was confident the new law would not have any adverse effects on the company.
Source: The Jakarta Globe
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Wednesday, 28 October 09
INVESTMENT IN MINING SECTOR HAMPERED BY LATE REGULATIONS
The Jakarta Post reported that, Indonesia may have to wait for a potential massive inflow of new investment into the mining sector due to delays in ...
Tuesday, 27 October 09
CHINA'S SEPT. COAL IMPORTS RISE AS ECONOMY RECOVERS
Bloomberg reported that, China, the world’s largest coal user and producer, increased imports of the fuel in September to meet rising domest ...
Monday, 26 October 09
DARWIN EYES PRIVATE INVESTMENT
The Jakarta Post reported that, the new energy and ministerial resources minister, Darwin Zahedy Saleh, has set his sights on accelerating the reali ...
Sunday, 25 October 09
THE FUTURE FREIGHT MARKET IS EXPECTED TO HAVE POSITIVE DIRECTION - VISTAAR
COALspot.com (Singapore): According to Vistaar Shipping an experienced ship operator in Singapore, the BDI shot up this week (19-24 October) by abou ...
Saturday, 24 October 09
NTPC SEEKS ALTERNATE COAL SUPPLY FOR KAHALGAON
State-run NTPC is looking at alternate sources of coal to fire its Kahalgaon (Bihar) and Farakka (West Bengal) and power stations, which are facing ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Chamber of Mines of South Africa
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- New Zealand Coal & Carbon
- Wilmar Investment Holdings
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- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
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- Kalimantan Lumbung Energi - Indonesia
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- Coalindo Energy - Indonesia
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- Wood Mackenzie - Singapore
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- Renaissance Capital - South Africa
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- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
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- Goldman Sachs - Singapore
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- Merrill Lynch Commodities Europe
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- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
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- Karaikal Port Pvt Ltd - India
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- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- India Bulls Power Limited - India
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- Central Electricity Authority - India
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- Binh Thuan Hamico - Vietnam
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- Oldendorff Carriers - Singapore
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- Orica Mining Services - Indonesia
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
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- Tata Chemicals Ltd - India
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- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
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- Romanian Commodities Exchange
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
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- Offshore Bulk Terminal Pte Ltd, Singapore
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- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- The Treasury - Australian Government
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- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
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- Eastern Coal Council - USA
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- Indian Energy Exchange, India
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- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Minerals Council of Australia
- SMG Consultants - Indonesia
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- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
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- Siam City Cement PLC, Thailand
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- Sical Logistics Limited - India
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- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
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