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