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