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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 $500 million nickel project in North Maluku in Indonesia.
WHAT ABOUT LEGAL CERTAINTY FOR MINING?
Legal certainty is a key issue for investors in Indonesia's mining sector and the government has been involved in a number of disputes with foreign mining companies.
PT Newmont Nusa Tenggara, an Indonesian unit of Newmont Mining Corp., and the government went to arbitration over a dispute on divestment.
The two sides are still negotiating over price after the government ordered Newmont to sell 17 percent of its shares to the Indonesian government within six months.
Source: Reuters
(http://www.reuters.com/article/marketsNews/idUSJAK48046320090707?sp=true)
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Friday, 24 July 09
BIG ADARO SHAREHOLDERS CREATE HOLDING COMPANY
The nation’s second-largest coal producer, PT Adaro Energy, said on Thursday that five key shareholders had merged their holdings in the compan ...
Friday, 24 July 09
INDIA TAKES 9 MILLION TONNES S. AFRICAN COAL JAN - JUNE
Reuters reported that, India accounted for nearly 9 million tonnes of South Africa's January-June exports of around 28 million tonnes, industry sour ...
Thursday, 23 July 09
KOMIPO LAUNCHES TWO COAL TENDERS
Korea Midland Power on Wednesday launched two tenders to procure bituminous or semi-anthracite coal for August to September delivery. Bids close on J ...
Thursday, 23 July 09
GUANGDONG BUYERS SET TO IMPORT 2.3 MILLION MT FROM VIETNAM - MEDIA
Several coal-consuming companies in China’s Guangdong Province, headed by Guangdong Yudean Group (Guangdong Power Generation Group), have inke ...
Thursday, 23 July 09
KEPCO BUYS 1.5% STAKE IN ADARO ENERGY FOR US$ 56.5M
WSJ reported that, state-run utility Korea Electric Power Corp., or Kepco, Thursday said it has acquired a 1.5% stake in Indonesian coal miner, PT A ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
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- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
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- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
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- Africa Commodities Group - South Africa
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- Chamber of Mines of South Africa
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- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
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- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
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- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
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- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Xindia Steels Limited - India
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- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
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- Bulk Trading Sa - Switzerland
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- Energy Link Ltd, New Zealand
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- Eastern Energy - Thailand
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- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Planning Commission, India
- Minerals Council of Australia
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- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
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- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
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- Interocean Group of Companies - India
- Georgia Ports Authority, United States
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- ICICI Bank Limited - India
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
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- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
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- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
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- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
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- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
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