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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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Tuesday, 14 July 09
MMTC SAYS MAY RE-TENDER FOR 12.5 MLN T COAL
* KIS has demanded investigation into procurement
* MMTC says import delays could add to power shortages
Alibaba reported that, India's s ...
Tuesday, 14 July 09
NEWCASTLE WEEKLY COAL EXPORTS RISE 11%; SHIP QUEUE DECREASES
Bloomberg reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, gained 11 ...
Monday, 13 July 09
EXPORT COAL PRODUCTION FROM MOOIPLAATS COULD START IN NOVEMBER
Mining Weekly reported that, South Africa-focused emerging miner Coal of Africa (CoAL) has completed a revised mining layout for its Mooiplaats ...
Monday, 13 July 09
NAPOCOR AWARDS 195,000 T COAL TO INDONESIAN FIRMS
ABC-CBN News reported that, Philippine electricity producer National Power Corp (Napocor) has awarded 195,000 tons in coal supply contracts to two I ...
Monday, 13 July 09
PAKISTAN TO IMPORT ABOUT 2.4 MILLION TONS OF INDONESIAN COAL AND 1.6 MILLION TON OF SOUTH AFRICAN COAL WITHIN NEXT 12 MONTHS
COALspot.com (Pakistan) : Pakistan has exported well over 12 million tons of cement while local sales have dropped a bit with the result 33 million to ...
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- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
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- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
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- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
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- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Minerals Council of Australia
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- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
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- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- The University of Queensland
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- AsiaOL BioFuels Corp., Philippines
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- Georgia Ports Authority, United States
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- Indogreen Group - Indonesia
- Parliament of New Zealand
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- Aditya Birla Group - India
- Mercator Lines Limited - India
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- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
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- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
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- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
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- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
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- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
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- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
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- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
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- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
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- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
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- Romanian Commodities Exchange
- PTC India Limited - India
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