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