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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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Thursday, 18 June 09
INDIKA GETS APPROVAL ON PETROSEA ACQUISITION
PT Indika Energy, the country’s third-biggest miner, said on Wednesday that its shareholders had approved its plan to acquire an 81.95 percent ...
Thursday, 18 June 09
MORE FUNDS FOR COAL VIDESH ASSET BUY
The government plans to let Coal Videsh, a subsidiary of Coal India, have more than Rs 1,000 crore at its disposal to shop for assets abroad.
&ld ...
Wednesday, 17 June 09
MINE EXPLOSION'S DEATH TOLL HITS 30 - (UPDATE 1 )
Search and rescue workers have discovered the bodies of 30 miners who were killed in a coal mine explosion in the West Sumatra regency of Sawahlunto ...
Wednesday, 17 June 09
S.KOREA UTILITIES INK '09 COAL CONTRACTS WITH CHINA
* S.Korea to buy 3 mln tonnes of coal from China at $78.50/T
* Talks between individual power firms and miners ongoing
South Korean utilities ...
Wednesday, 17 June 09
MINE BLAST KILLS NINE, BURIES DOZENS
A major mine explosion near Sawahlunto city, West Sumatra, Tuesday, killed at least nine people while more than 30 were buried and are feared ...
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- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- The University of Queensland
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
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