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