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