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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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Sunday, 26 July 09
CESC PLANS 2000 MW POWER PLANT IN BIHAR
Jai Bihar reported that, RPG flagship company CESC Ltd on Friday unveiled its plan to set up a 2,000 MW power generation plant at Pirpainti near Bha ...
Saturday, 25 July 09
HUANENG EYES MAJORITY STAKE IN PT BERAU COAL
CCTV reported that, China's largest publicly traded power company has submitted a bid for controlling stake in Indonesia's fifth largest coal mine ...
Saturday, 25 July 09
ADANI POWER TO IMPORT COAL FOR MUNDRA PLANT
BL reported that more than 50% of the coal requirement for Adani Power’s 4,620 MW Mundra plant will have to be imported from Indonesia though ...
Friday, 24 July 09
INDONESIAN COAL NEWS - UPDATE
Income from tax slow
Since the economic crisis in October 2008 until now, tax from the general mining sector is slow. According to the Director Gene ...
Friday, 24 July 09
S.AFRICA JAN-JUNE EXPORTS TO ASIA AROUND 1.4 MLN T
* China takes 140-150,000 tonnes
* S.Korea imports zero
* Hong Kong utilites buy S.African coal
South African coal exports to Asia excluding India a ...
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- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Australian Coal Association
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
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