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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 $500 million nickel project in North Maluku in Indonesia.
WHAT ABOUT LEGAL CERTAINTY FOR MINING?
Legal certainty is a key issue for investors in Indonesia's mining sector and the government has been involved in a number of disputes with foreign mining companies.
PT Newmont Nusa Tenggara, an Indonesian unit of Newmont Mining Corp., and the government went to arbitration over a dispute on divestment.
The two sides are still negotiating over price after the government ordered Newmont to sell 17 percent of its shares to the Indonesian government within six months.
Source: Reuters
(http://www.reuters.com/article/marketsNews/idUSJAK48046320090707?sp=true)
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Tuesday, 07 July 09
ECONOMIC SURVEY 2008-09 OPEN UP COAL TO FUEL POWER PLANTS
TOI reported that the coal ministry's efforts at opening doors for full private entry through open bidding in coal mining got a boost, with the Eco ...
Tuesday, 07 July 09
POWER - STATION COAL MAY RISE ON CHINA DEMAND, SUPPLIES, UBS SAYS
Power-station coal prices in Asia may increase in 2010 because of higher demand from China, the second-largest energy-consuming nation, and supply c ...
Saturday, 04 July 09
FREIGHT FUTURE FOR 3 YEARS UNTIL 2012 WAS FAIRLY SOFT AROUND PANAMAX / US$ 16,000, SUPRAMAX / US$ 13,000 PER DAY
COALspot.com (Singapore): According to Vistaar shipping, an experinced ship operator in Singapore, the freight market was soft with bit nervousness ...
Saturday, 04 July 09
CHINA BUYS 17% OF MINER TECK RESOURCES FOR $1.5 BILLION
* To sell 17.2 percent stake to China Investment Corp
* To raise proceeds of C$1.74 bln
* Shares rise 3.2 percent (Adds details. In U.S. dol ...
Saturday, 04 July 09
MINING CONTRACT SOUGHT FOR COAL AREA IN MASBATE
Because of its coal deposits, a town in Masbate is one of the sites in the country being sought out for exploration and development by mining compan ...
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- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- The University of Queensland
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
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