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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, 28 July 09
SHENZHEN ENERGY INKS COAL PURCHASE CONTRACT WITH CHINA SHENHUA
China Knowledge reported that, Shenzhen Energy Group Co Ltd has signed a five-year contract with China Shenhua Energy Co Ltd, which is engaged in th ...
Tuesday, 28 July 09
BUKIT ASAM ENJOYS STRONG FIRST HALF
The Jakarta Post reported that, state coal miner PT Tambang Batubara Bukit Asam (PTBA) enjoyed a strong first half performance with six-month net pr ...
Tuesday, 28 July 09
NEWCASTLE LOADED 1.943 MILLION TONS OF COAL IN THE WEEK ENDED 27TH JULY 2009
COALspot.com (Singapore) : The volume exported from Australia’s Newcastle port in the week ended - 07:00 hours 27 July 2009 ...
Monday, 27 July 09
INDIA PAYING HIGHEST PRICE FOR S.AFRICA COAL - PRODUCERS
* Spread between South African and Pacific origin coal very wide
* Lack of European buying makes India indicator of value
Reuters reported that, ...
Monday, 27 July 09
TAIWAN'S FORMOSA EYES S.AFRICAN COAL FOR Q4: TRADE
Reuters reported that, Taiwan's Formosa Plastics Group is looking to buy two South African thermal coal cargoes for delivery in the fourth-quarter, ...
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- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- White Energy Company Limited
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Economic Council, Georgia
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
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