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