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