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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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Saturday, 27 June 09
HEAVY CONGESTION AT AUSTRALIAN PORTS REACHING ALL TIME HIGH TO 120 SHIPS IN EAST COAST AUSTRALIA - VISTAAR SHIPPING
COALspot.com (Singapore): The market this week was a bit soft and the BDI was down by almost 10 pct and closed at 3,703 points.
The drop in BDI i ...
Friday, 26 June 09
INDONESIA INVESTORS EYE BHP BILLITON COAL PROJECT
About four Indonesian investors are interested in taking over a coal project owned by BHP Billiton Ltd, a senior government mining official said.
...
Friday, 26 June 09
SOUTH AFRICA'S CONSULTING GROUP OPENS OFFICES IN CHINA, INDONESIA
Consulting engineering company SRK Consulting has opened new offices in Asia to cope with the growing demand for its services in the region.
The ...
Friday, 26 June 09
RUSSIA MECHEL TO DELIVER 2 MLN T COKING COAL TO ASIA
Russian steel and coal producer Mechel said on Thursday it had signed contracts to deliver about 2 million tonnes of coking coal concentrate to unna ...
Friday, 26 June 09
SA COAL EXPORTS UNLIKELY TO BREACH 65MT THIS YEAR
Coal volumes railed to South Africa’s Richards Bay Coal Terminal (RBCT) during the rain-affected first quarter of 2009 had fallen well short o ...
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- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- The University of Queensland
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Planning Commission, India
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
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