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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, 23 June 09
NAPOCOR TO RE-TENDER FOR 195,000 T COAL IN JULY
Electricity producer National Power Corp. (Napocor) will hold a tender on July 15 to buy 195,000 tons of steam coal for its Sual power station, the ...
Monday, 22 June 09
ONE DIES IN KUTAI COAL TUNNEL COLLAPSE
The Jakarta Post reported that, A tunnel at a coal mine belonging to company PT Fajar Bumi Sakti in Kutai Kartanegara, East Kalimantan collapsed on ...
Monday, 22 June 09
THIS WEEK IS EXPECTED TO BE FIRM AND DEMAND OF SHIPS WOULD BE STRONG - VISTAAR SINGAPORE
COALspot.com (Singapore): The BDI up by 487 points over last week which is an increase of almost 13 pct. The increase is again mainly due to Ca ...
Monday, 22 June 09
CHINESE MAY COAL IMPORTS HIT RECORD 9.43 MILLION TONNES
Reuters quoted Custom Data showed that China's coal imports hit an all-time record of 9.43 million tonnes in May.
The figure surpasses the previ ...
Monday, 22 June 09
SOUTH AFRICAN EXPORT COAL DECLINES ON WEAKENING EUROPEAN DEMAND
Prices for coal shipped from South Africa’s Richards Bay, site of the world’s largest export terminal for the fuel, posted the first dro ...
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- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- The University of Queensland
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
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