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