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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, 09 July 09
GARDA LISTS SHARES IN LOCAL BOURSE
Local coal company PT Garda Tujuh Buana officially listed its shares in the Indonesia Stock Exchange (IDX).
The listing followed the company's p ...
Thursday, 09 July 09
COAL AND OIL GROUP TO INVEST $300 MN TO BUY SHIPS AND ACQUIRE COAL MINE
Coal & Oil Group is planning to invest around $300 million (around Rs 1,500 crore) to buy new ships and to acquire coal mines. The company is pl ...
Thursday, 09 July 09
NO TRADE ON AUSTRALIA'S ASX COAL FUTURES DEBUT
*ASX's deliverable thermal coal futures debut without trade
*ASX says futures could present new arbitrage opportunities
The debut of Australia ...
Wednesday, 08 July 09
GERMAN COAL PRODUCTION DECREASED BY 31% TO ROUND 3.4 MILLION TON IN 1Q 2009 - COAL IMPORTERS ASSOCIATION, HAMBURG
COALspot.com (Germany):
World Coal Market
According to analysis of VEREIN DER KOHLENIMPORTEURE E.V. , On a quantity basis the s ...
Wednesday, 08 July 09
HUADIAN POWER BUYS INTO COAL MINERS
Huadian Power International Corporation - China's largest independent power producerCannounced Tuesday in a filing to the Shanghai Stock Exchange ...
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- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- PTC India Limited - India
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Economic Council, Georgia
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