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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 $500 million nickel project in North Maluku in Indonesia.
WHAT ABOUT LEGAL CERTAINTY FOR MINING?
Legal certainty is a key issue for investors in Indonesia's mining sector and the government has been involved in a number of disputes with foreign mining companies.
PT Newmont Nusa Tenggara, an Indonesian unit of Newmont Mining Corp., and the government went to arbitration over a dispute on divestment.
The two sides are still negotiating over price after the government ordered Newmont to sell 17 percent of its shares to the Indonesian government within six months.
Source: Reuters
(http://www.reuters.com/article/marketsNews/idUSJAK48046320090707?sp=true)
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Monday, 20 July 09
CHINA COAL PRODUCES 52.7 MLN TONNES OF COAL IN 1H, UP 5.4 PCT
China Mining reported that, China Coal Energy Co., the country's second largest coal producer, said Saturday that it produced 52.67 million tonnes ...
Monday, 20 July 09
INDONESIA PRODUCES 72 MILLION MT IN FIRST HALF OF YEAR: OFFICIAL
Indonesia produced 72 million mt of coal in the first half of 2009, or 31.3% of the government’s target this year, a senior government officia ...
Sunday, 19 July 09
JINDAL S&P IN TALKS TO BUY SA COAL MINE FOR RS 350-400 CR (US$ 80 - 90 MILLION)
Economic Times reported that, Naveen Jindal-led Jindal Steel & Power (JSPL) is acquiring a thermal coal mine in South Africa, a top company exec ...
Saturday, 18 July 09
REN POWER CZ COMMISSIONS ANOTHER PHOTOVOLTAIC POWER STATION
COALspot.com (Press Release): REN Power CZ, a company in the Czech Coal Group, has put into operation another photovoltaic power station. The plant ...
Saturday, 18 July 09
THE FUTURE FOR SUPRAMAX FOR NEXT 3 YEARS TILL 2012 WOULD BE AROUND US$ 13,500 PER DAY - CAPT. REDDY
COALspot.com ( Singapore): The market moved up sharply this week , which was quite unexpected.
The BDI was up by 557 which is an increase of 18 ...
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- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- PTC India Limited - India
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Borneo Indobara - Indonesia
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