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