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