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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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- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- McConnell Dowell - Australia
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- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
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- Planning Commission, India
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- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
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- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Economic Council, Georgia
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- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- Australian Coal Association
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- The State Trading Corporation of India Ltd
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- Vedanta Resources Plc - India
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- Price Waterhouse Coopers - Russia
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- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
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- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
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- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
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- Electricity Generating Authority of Thailand
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- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
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- Sojitz Corporation - Japan
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- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
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- Petrochimia International Co. Ltd.- Taiwan
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- Kaltim Prima Coal - Indonesia
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- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
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- Independent Power Producers Association of India
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- Ministry of Transport, Egypt
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- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
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- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
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- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
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- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
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- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
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- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
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- Mintek Dendrill Indonesia
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- Kideco Jaya Agung - Indonesia
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- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
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