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