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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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Saturday, 04 July 09
S. AFRICA'S RICHARDS BAY TO CAP NEW COAL VOLUMES, MININGMX SAYS
South Africa’s Richards Bay Coal Terminal is proposing restrictions on the quotas it awards to coal exporters from the so-called Phase 5 expansi ...
Saturday, 04 July 09
DALRYMPLE BAY COAL TERMINAL EXPANSION COMPLETE
BABCOCK & Brown Infrastructure has completed expansion of the Dalrymple Bay Coal Terminal (DBCT) near Mackay, Queensland.
The terminal is now ...
Friday, 03 July 09
CHINA SHENHUA TO DOUBLE COAL CAPACITY BY 2014-PAPER
China Shenhua Energy Co Ltd plans to double its annual coal production capacity by 2014 from this year's level, the China Securities Journal report ...
Friday, 03 July 09
UKRAINE CUTS COAL PRODUCTION 9.3 PERCENT IN H1
Ukraine reduced coal production approximately 9.3%, or by 3.673 million tonnes, to 35.879 million tonnes in the first half of 2009 compared to the s ...
Thursday, 02 July 09
PETCOKE BOOMS AS CEMENT MAKERS TRY TO REPLACE COAL
* Cement makers led by Asia chase petcoke to replace coal
* Petcoke prices up $10/T Feb-Jun, set to rise further
* Domestic U.S. petcoke demand ma ...
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- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Aditya Birla Group - India
- Australian Coal Association
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- VISA Power Limited - India
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
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