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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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Wednesday, 15 July 09
BANGLADESH TO IMPORT COAL FROM INDIA FOR 1 MORE YR
Bangladesh has decided to import coal from neighbour India for another year to save foreign exchange and time, a commerce ministry official said on ...
Wednesday, 15 July 09
INDONESIAN FIRM SUBMITS LOWEST BID FOR NAPOCOR COAL
ABS-CBN News reported that, An Indonesian firm offered to supply 195,000 tons of thermal coal to top Philippine electricity producer National Power ...
Wednesday, 15 July 09
INDIAN COAL MINISTRY TO CONSIDER POWER PLANT ALTERATION PROPOSALS
PTI reported that the coal ministry has agreed to consider applications of power plants seeking long term coal linkage due to enhancement in electri ...
Wednesday, 15 July 09
SHENHUA STARTS WORK ON INDONESIA POWER PLANT
Bloomberg reported that China Shenhua Guohau Power a unit of China’s biggest coal producer started construction of a power plant and mine in I ...
Wednesday, 15 July 09
PLN OPENS TENDERS FOR SUPPLY OF LOW - GRADE COAL
The Jakarta Globe, a Indonesian new paper reported that, State power utility PT PLN has opened a tender for the supply of low-grade coal for the nat ...
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- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Parliament of New Zealand
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
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- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- GMR Energy Limited - India
- CNBM International Corporation - China
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
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