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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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- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- The University of Queensland
- Xindia Steels Limited - India
- MS Steel International - UAE
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Marubeni Corporation - India
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
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