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