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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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Sunday, 21 June 09
CHINESE MINERS SEAL THERMAL COAL DEALS WITH JAPAN AND KOREA
As the confrontation between China's power and coal enterprises become more and more serious, coal enterprises which had supposedly been in the sho ...
Sunday, 21 June 09
MERCATOR TO BUY 3 BULK VESSELS
Mercator Lines, India’s second-largest private shipping company, is expanding its capacity and is set to acquire three gearless post-Panamax b ...
Sunday, 21 June 09
COAL SCARCITY HITS BIHAR POWER PLANTS
The Rs 60,000 crore 12,500mw power projects cleared by the State Investment Planning Board (SIPB) which could change the face of Bihar if commission ...
Sunday, 21 June 09
NLC CHALKS OUT RS 40K CR INVESTMENT
Public sector mini rathna, Neyveli Lignite Corporation is in rapid expansion mode and has chalked out Rs 40,000 crore investment both in
the mining ...
Sunday, 21 June 09
TRANSPORT PROBLEMS HOLD BACK RUSSIAN COAL EXPORTS
Limited rail capacity and poor port infrastructure are frustrating the ambitions of Russia's leading coal producers to increase exports quickly to ...
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- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
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- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Planning Commission, India
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
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