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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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Monday, 27 July 09
ADANI POWER'S $625 MILLION IPO TO GENERATE HOT DEMAND
WSJ reported that, Adani Power, the electricity generating unit of India's Adani Enterprises Ltd., is set raise up to US$625 million in wha ...
Monday, 27 July 09
MIDDLE EAST COAL TO MOVE ON $1B EAST KALIMANTAN PROJECT
The Jakarta globe reported that, Middle East Coal reiterated on Monday that it would push ahead its $1 billion development program for East Kutai Re ...
Monday, 27 July 09
SHORT AND ONE YEAR PERIOD RATES FOR SUPRAMAX WAS FIRM AT AROUND US$ 18, 000 -18,500 PER DAY
COALspot.com (Singapore): The Supramax charter rates up sharply last week (ended 24th July 2009), especially India / Far East region said, Capt ...
Monday, 27 July 09
COKING COAL, IRON-ORE LIKELY TO BENEFIT NON-INTEGRATED STEEL PRODUCERS
Economictimes reported that, The second half of the financial year 2008-09 was one of the toughest periods for steel companies, especially the non-i ...
Monday, 27 July 09
GMR ENERGY BUYS EMCO POWERGEN SUBSIDIARY
DNA India reported that, Thane-based transformer manufacturer Emco Ltd has sold its stake in unlisted power generation subsidiary Emco Energy to Ban ...
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- VISA Power Limited - India
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
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