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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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Friday, 12 June 09
THERMAL COAL PRICE REMAINS STABLE IN SHANXI - STEEL GURU
It is reported that coming into June, no major changes are seen in coal supply-demand relations in Shanxi province. Statistics of Qinhuangdao port, ...
Thursday, 11 June 09
PT NALCO PLANS TO CONSTRUCT COAL-FIRED POWER PLANT IN SOUTH SUMATRA - ENERGY BUSINESS REVIEW
PT Nalco (National Aluminium Company Limited), an Indian-based company, plans to construct a coal-fired power plant in South Sumatra. The company in ...
Thursday, 11 June 09
COAL PRODUCERS TO SEE BOOST IN DEMAND FROM ASIA PACIFIC - JAKARTA POST
The Jakarta Post reported that, at the recent 15th Coaltrans conference in Bali, we noted concerns related to rising oil prices at a faster pace tha ...
Wednesday, 10 June 09
BHP TO CUT 450 JOBS AT INDONESIAN COAL PROJECT - REUTERS
Reuters reported that, BHP Billiton Ltd will lay off all 450 workers at its Indonesian coal project after deciding not to go ahead with the pr ...
Monday, 08 June 09
PTC INDIA TO ACQUIRE COAL MINES IN AUSTRALIA, INDONESIA - PTI NEWS
PTI reported that, State-owned Power Trading Corp today said it would acquire coal properties overseas and has identified mines in Australia and Ind ...
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- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Parliament of New Zealand
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Australian Coal Association
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- PTC India Limited - India
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- ASAPP Information Group - India
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
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