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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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Wednesday, 22 July 09
ONE TENDERS FOR 114,000 MT FOR NOV-JAN
Moroccan state-owned power utility Office National de l’Electricité (ONE) has launched a tender for three handymax shipments of coal fo ...
Wednesday, 22 July 09
TAIPOWER RECEIVES 37 OFFERS IN TENDERS
State utility Taiwan Power has received offers for 37 panamax cargoes of bituminous and sub-bituminous coal in two tenders involving 12 panamax ship ...
Wednesday, 22 July 09
PRIME MINISTER APPROVAL SOUGHT TO HIKE COAL PRICES IN INDIA
PTI reported that decrying the low prices of the industrial fuel, the coal ministry will approach Dr Manmohan Singh PM of India next month for raisi ...
Tuesday, 21 July 09
BHATIA SAYS GETS ORDER FOR 800,000T COAL FROM KPCL
Reuters reported that, Indian traders Bhatia received on Tuesday a purchase order for 800,000 tonnes thermal coal at $63.00 C&F from Karnataka P ...
Tuesday, 21 July 09
NZ'S PIKE RIVER SAYS SELLS COAL AT $128 PER TONNE
Reuters reported that, New Zealand miner Pike River Coal said on Tuesday it had sold its premium hard coking coal at $128 a tonne for the curr ...
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- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Planning Commission, India
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Australian Coal Association
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- Central Java Power - Indonesia
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