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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, 17 July 09
CHINA COAL-SPOT PRICES EDGE LOWER, SUPPLY APLENTY
China Mining reported that, spot prices in China's top coal shipping port Qinhuangdao edged lower from a week earlier, as supply grew, offsetting t ...
Friday, 17 July 09
THE NEW LAW OF MINERAL AND COAL MINING NO 4/2009 CREATE CONDUCIVE CLIMATE OF INVESTMENT IN INDONESIA
COALspot.com (Indonesia): The new Law of Mineral and Coal Mining No 4/2009, which replaces the old mining law No. 11/1967 has been signed by the Pre ...
Friday, 17 July 09
INDIA COAL TRADERS MUST OWN POWER, MINES - C&O BOSS
· Coal traders need to diversify to grow
· Coastal Energen to build first merchant power plant
· Tamil Nadu to see st ...
Friday, 17 July 09
CHINA SHENHUA ENERGY'S COAL OUTPUT SWELLS 17.6% IN H1
China Knowledge reported that, China Shenhua Energy Co Ltd, which is engaged in the coal mining, power generation and transportation businesses, on ...
Thursday, 16 July 09
CHINA ISSUES SECOND BATCH OF '09 EXPORT QUOTAS
China has issued 25 million tonnes of coal export quotas for the second batch this year, the National Development and Reform Commission said Wednesd ...
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- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- MS Steel International - UAE
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- The University of Queensland
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
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