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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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Thursday, 30 July 09
KOMIPO OFFERED 3 MILLION MT IN TENDER, TEN TIMES OVERSUBSCRIBED
Korea Midland has received offers for 3 million mt of bituminous steam coal in its latest tender despite the power utility seeking only 300,000 mt, ...
Thursday, 30 July 09
PNOC FORGES JOINT VENTURES AS STEPS UP COAL OPERATIONS
The Philippine National Oil Co.-Exploration Corp. has entered joint venture agreements with food and beverage conglomerate San Miguel and Filipinas ...
Thursday, 30 July 09
NAMANE OF SOUTH AFRICA IN SUDAN COAL DEAL, BUSINESS REPORT SAYS
Namane of South Africa in Sudan Coal Deal, Business Report Says
Namane Resources Ltd. of South Africa signed a coal-supply agreement with the Nat ...
Wednesday, 29 July 09
RP COAL DEMAND TO SURGE BY 2014 - PHILIPPINES UPDATE
CEBU, Philippines - With the entry of new coal-fired power generation plants in the Philippines, the Department of Energy (DOE) projected an increas ...
Wednesday, 29 July 09
INDIA HUNGRY FOR OUR COKING COAL ASSETS
The Australian reported that, INDIA is about to embark on a program of rapid coal sector acquisitions in Australia as it looks to plug a huge annual ...
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- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Australian Coal Association
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
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