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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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Thursday, 16 July 09
NTPC TO ENGAGE BANKERS TO ACQUIRE OVERSEAS COAL MINES
The Hindu reported that, State-run power generation company NTPC said it would appoint merchant bankers next month for acquiring coal mines identifi ...
Thursday, 16 July 09
JAPAN'S J - POWER STARTS OPS AT NEW 600 MW COAL UNIT
Reuters, a worlds leading news agency reported that, Electric Power Development Co (J-Power) said on Thursday it started commercial operations at it ...
Thursday, 16 July 09
DELIVERY OF COAL MINE EXPLORATION THROUGH NEWCASTLE PORT ROSE 11 PERCENT
July 16th, 2009 Newcastle is a port in Australia that provides services in the delivery of coal from Australia to other countries. Newcastle port ha ...
Thursday, 16 July 09
CIL KEEN ON JOINT VENTURES
* Targets to raise production by 10 m tonnes by 2012
* Plans to tap reserves of abandoned mines
The Hindu, an Indian news paper reported that, t ...
Wednesday, 15 July 09
COAL INDIA INVITES EOI FOR COAL MINING IN FOREIGN COUNTRIES
Economict Tmes reported that, Coal India, a leading PSU with a status of Navratna, today, invited Expression of Interest for selection of strategic ...
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- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
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- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
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- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
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- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Planning Commission, India
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
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- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
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- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Attock Cement Pakistan Limited
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- Samtan Co., Ltd - South Korea
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- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
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- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
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- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
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- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
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- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
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- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
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- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
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- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
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