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