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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, 07 July 09
RICHARDS BAY TERMINAL COAL EXPORTS ROSE 7.2% IN JUNE
Richards Bay Coal Terminal Ltd., Africa’s largest coal-export facility, said shipments rose 7.2 percent in June from a year earlier.
Export ...
Tuesday, 07 July 09
INDIKA ENERGY COMPLETES THE ACQUISITION OF PETROSEA
TAMBANG reported that, PT Indika Energy, Tbk has officially announced that it has completed the acquisition of PT Petrosea, Tbk. from Clough Interna ...
Tuesday, 07 July 09
RUSSIAN AUDITORS ATTACK COAL EXPORTERS OVER PRICING
Russia's budget is losing substantial revenues because the country's exporters ship coal overseas at artificially low prices through various offsh ...
Tuesday, 07 July 09
RBCT COAL EXPORTS TO REMAIN BELOW CAPACITY IN 2009
Coal volumes railed to South Africa’s Richards Bay Coal Terminal are continuing to fall far short of the corridor’s nameplate yearly cap ...
Tuesday, 07 July 09
TATA POWER AID THE INDONESIAN COAL MINES
BL reported that Mr Prasad Menon MD of TATA Power aid the Indonesian coal mines PT Kaltim Prima Coal and PT Arutmin Indonesia in which TATA Power ha ...
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- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
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- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
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- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
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- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
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- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
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- The University of Queensland
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- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- VISA Power Limited - India
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
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