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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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Friday, 26 June 09
BAYAN TARGETS GROSS PROFIT TO RISE BY 86.2 PERCENT
Local coal producer publicly listed PT Bayan Resources is targeting this year's gross profit to rise by 86.2 percent on the back of higher sales vo ...
Thursday, 25 June 09
INDIA'S ULTRATECH BUYS 500,000T S.AFRICA COAL
Indian cement maker Ultratech has bought 10 handymax cargoes of South African coal at $73.00-$74.00 a tonne CIF for July-September delivery, Indian ...
Wednesday, 24 June 09
NTPC BURNS MORE COAL TO PRODUCE ELECTRICITY
A tonne of coal is the same as another tonne of coal, you might think.
But power major NTPC Ltd is finding that this year’s coal is not yie ...
Wednesday, 24 June 09
NTPC, COAL INDIA TO BUY MINING ASSETS OVERSEAS
State-owned utility National Thermal Power Corporation (NTPC) and the largest coal producer Coal India are in advanced stages of acquiring mining as ...
Tuesday, 23 June 09
NEWCASTLE WEEKLY COAL EXPORTS DECREASE 15%; SHIP QUEUE RISES
Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, fell 15 percent last week while the numb ...
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- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Minerals Council of Australia
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- The University of Queensland
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
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