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Monday, 28 December 09
GOVT EYES $3.57B MINING, GEOTHERMAL INVESTMENT
 The country can expect up to US$3.57 billion in investment in mining and geothermal energy next year, which would represent an increase by more than 90 percent of realized investment this year, a senior official says.
For this year, the government predicted investment in the sector would reach $2.33 billion, but only about 80 percent of that target has been achieved so far, according to Witoro Soelarno, the secretary to the directorate general for minerals, coal and geothermal energy at the Energy and Mineral Resources Ministry.
Next year will be another important year for the country’s mining industry as four long awaited implementation regulations to the new mining law are expected to be issued in January.
The implementation regulations, covering mining areas, coal and mineral businesses, mining supervision, reclamation and postmining issues, are expected to provide legal certainty and boost investors’ confidence in developing the country’s mining and geothermal reserves, he said.
However, Witoro added that major investment next year would still come from existing concessions rather than new mining licenses issued under the recent law.
“Most of the investment in 2010 will come from existing mining contracts. Investment from new mining licenses will not dominate,” he said in a text message sent over the weekend.
“The increase in investment as a result of the new regulations cannot be estimated yet because the 2010 work and budget plan [from miners] is still being evaluated.
“The potential for new mining licenses from regions is also difficult to evaluate at this stage as
the reports are very minimal,” Witoro said.
Indonesia has suffered from a prolonged investment drought in the mining sector for the last 10 years, including in 2007 when commodity prices peaked.
Global mining industry consultant PricewaterhouseCoopers (PwC) said that mining companies operating in Indonesia had so far only invested in maintaining existing operations, while investment in greenfield exploration was very minimal.
Despite the pros and cons of the new mining law, the government expects the law will reduce legal uncertainty and attract more investors to explore the country’s mining potential.
The industry’s concrete response to the law will only be clear after the implementation regulations are issued.
However, Irwandy Arif, chairman of the Association of Indonesian Mining Professionals (PERHAPI), said the effect of the law on investment inflow would not be immediate.
“It will take some time to harmonize all the regulations,” he said.
Irwandy predicted that investment in 2010 would remain focused on additional capital spending for existing concessions rather than the exploration of greenfield areas.
He said these considerations were based not only on the new regulations, but also on the fact that commodity prices remained low.
“Many institutions estimate that commodity prices will remain low, at least until the end of 2010,”
he said.
Source: The Jakarta Post
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Tuesday, 09 February 10
EURO COAL-PROMPT SLIDES WITH OIL PRICES
* April S.African cargo trades at $83.50/T FOB, unchanged
* April DES cargo trades at $74.75 a tonne, down $1/T
* Russia's Kuzbassrazrezugol sees ...
Monday, 08 February 10
BLACK RIDGE MINING APPOINTS INDEPENDENT CONSULTANT
Australian-listed Black Ridge Mining has announced the appointment of David Tuit as an independent consultant to assist with the assessment of the c ...
Monday, 08 February 10
SOUTH AFRICAN EXPORT COAL RISES FOR FIRST TIME IN FOUR WEEKS
Prices for coal shipped from South Africa’s Richards Bay, the continent’s biggest export facility for the fuel, posted their first gain ...
Monday, 08 February 10
NTPC HOPES TO START ON 500-MW PROJECT IN SRI LANKA BY FEB-END
NTPC sources told Business Standard, “All formalities from our government and NTPC have been completed.
The opinion of the Sri Lankan atto ...
Sunday, 07 February 10
AN AUSTRALIAN FIRM HAS SIGNED A $60BN DEAL TO SUPPLY COAL TO CHINESE POWER STATIONS
Clive Palmer, chairman of the company, Resourcehouse, said it was Australia's "biggest ever export contract".
Under the deal, the firm ...
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- Ministry of Transport, Egypt
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- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
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- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
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- Indian Energy Exchange, India
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- Economic Council, Georgia
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- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
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- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
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- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
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- Indonesian Coal Mining Association
- The University of Queensland
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- Petron Corporation, Philippines
- New Zealand Coal & Carbon
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- Australian Coal Association
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- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
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- Kepco SPC Power Corporation, Philippines
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- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
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- Semirara Mining and Power Corporation, Philippines
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- White Energy Company Limited
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- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
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- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
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