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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, 30 June 09
ARCELORMITTAL, RIO, 8 OTHERS VIE FOR COAL INDIA MINES
Coal India Ltd. short-listed ArcelorMittal, Rio Tinto Group and eight other companies to develop its abandoned mines to help ease a shortage of coal ...
Monday, 29 June 09
INDONESIA PLANS 20 PCT FOREIGN MINING SALE LAW
Indonesia plans to require foreign investors in mining firms to gradually divest shares starting from the fifth year of commercial production, but m ...
Monday, 29 June 09
CHINA ENJOYS STABLE COAL ECONOMY IN THE FIRST FIVE MONTHS OF 2009
In the first five months of the year, China's raw coal production had continued to rise, and coal market stayed in a balance in terms of supply-dem ...
Monday, 29 June 09
GOVERNMENT FINE TUNES MINING LAW
The government is planning to require all foreign-owned mining companies to divest 20 percent of their businesses to local entities after five years ...
Sunday, 28 June 09
INDIA CEMENTS TO INVEST RS 1,500 CR OVER 2 YEARS
Chennai-based India Cements is planning to invest around Rs 1,500 crore over the next two years for setting up a greenfield project in Rajasthan, po ...
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- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- The University of Queensland
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Parliament of New Zealand
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
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