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