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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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Thursday, 23 July 09
INDONESIA COAL-PRICES CLIMB TO $80, INDIAN DEMAND SLOWS
Reuters reported that, prices of power-station coal in Australia, a benchmark for Asia, jumped to nearly $80 a tonne this week, while Indonesi ...
Thursday, 23 July 09
COAL IMPORTS SURGE; EXPORTS DOWN IN H1
China Trade Information reported that, China’s coal imports surged by 126.3 percent year-on-year in the first half of 2009, reaching 48.3 mill ...
Thursday, 23 July 09
SRI LANKA CALLS FOR COAL SUPPLY BIDS
Daily Mirro reported that, In a move to install the country’s first coal power plant, Sri Lanka has invited bids to supply 2.4 million metric ...
Thursday, 23 July 09
POWER INVESTORS TURN BACKS ON VIETNAMESE COAL IMPORTERS
VietNamNet Bridge reported that, Investors of power plants always seek foreign coal sources to import themselves, believing they can come by it chea ...
Wednesday, 22 July 09
BERAU COAL DRAWS LOCAL, CHINESE BIDS - SOURCES
* Indonesian coal firm draws local, Chinese bids-sources
* Deal could value Berau at more than $1 billion-sources
Reuters reported that, China' ...
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- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Planning Commission, India
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
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