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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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Saturday, 13 June 09
CLEARLY THE DRIVER FOR DRY BULK MARKET SEEMS TO BE IMPORTS BY CHINA - VISTAAR SINGAPORE
COALspot.com (Singapore): The market saw mixed results last week. The beginning of the week saw the indices dropping including the futures , however t ...
Friday, 12 June 09
SOUTH SUMATERA SPEEDS UP INTERNATIONAL HARBOR CONSTRUCTION - TEMPO INTERACTIVE
The South Sumatera Government will speed up construction of the international harbor Tanjung Api-Api. The harbor is a strategic entry point for comm ...
Friday, 12 June 09
CHINA SHENHUA NOT EYEING NEW FOREIGN COAL MINES - MEDIA
China Shenhua Energy Co Ltd , the top Chinese coal miner, will not consider buying any major overseas mines before it starts operating the Watermark ...
Friday, 12 June 09
CHINA TOP POWER COS SIGN REGIONAL COAL DEALS - REUTERS
China's top five power generating groups have signed 2009 coal supply contracts with miners in Guizhou and Xinjiang, with prices up 4 percent on th ...
Friday, 12 June 09
MERCATOR LINES TARGETS 30 MILLION TONNE FROM MOZAMBIQUE COAL MINE - STEEL GURU
India’s second largest private shipping company Mercator Lines has targeted production of 30 million tonnes of coal from its Mozambique mine o ...
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- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- VISA Power Limited - India
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Marubeni Corporation - India
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
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