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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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Wednesday, 01 July 09
NEWCASTLE WEEKLY COAL EXPORTS RISE BY 12PCT
Bloomberg reported that Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, gained 12% last ...
Wednesday, 01 July 09
RS 6,000CR MMTC COAL IMPORT PLAN UNDER CLOUD
The plan of MMTC Ltd, a trading firm under the commerce ministry, to import coal worth Rs 6,000 crore has come under cloud, with the Central ...
Wednesday, 01 July 09
INDONESIAN FIRM BIDS FOR 130,000T COAL FOR NAPOCOR
Top Philippine electricity producer National Power Corp. (Napocor) said on Wednesday it received two bids from Indonesia's PT Trubaindo and its loc ...
Wednesday, 01 July 09
COAL PRICE INDEX TO BE LAUNCHED IN JULY
India will soon get a coal index to track the coal price movement in the country.
India's leading e-commerce company Mjunction Services Ltd will ...
Wednesday, 01 July 09
COAL INDIA SEEKS FASTER APPROVALS, IMPORTS, OVERSEAS MINERS
Coal India Ltd., the world’s biggest coal producer, wants mining approvals sped up to help it boost production to meet a widening supply short ...
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- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Parliament of New Zealand
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- The University of Queensland
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
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- Larsen & Toubro Limited - India
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- Wilmar Investment Holdings
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- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
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- Toyota Tsusho Corporation, Japan
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- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
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- Trasteel International SA, Italy
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- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
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- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
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- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
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- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
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- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
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- OPG Power Generation Pvt Ltd - India
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