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