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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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Saturday, 06 February 10
FREIGHT WOULD CONTINUE TO BE SOFT NEXT WEEK - VISTAAR SHIPPING
COALspot.com (Singapore): The freight market continued to soften this week including the stock markets. The main reason seems to be Chinese ne ...
Saturday, 06 February 10
COAL MINISTRY SEEKS CUT IN IMPORT DUTY
The coal ministry wants the finance ministry to reduce the 5.1% import duty on thermal coal and continue with the existing zero import duty on cokin ...
Friday, 05 February 10
IN 2010, CHINA COAL OUTPUT TO REACH AROUND 3.3BLN T
It is expected that China's coal production in 2010 will reach around 3.3bln tons. It is predicted that in the first quarter of 2010, the tight coa ...
Thursday, 04 February 10
INDIA REMAINS FIRM - FEARNRESEARCH
CHARTERING - DRY BULK
Handy
The BSI has continued it´s downward movement for 2 weeks now.Nevertheless activity in the atlantic remains bu ...
Thursday, 04 February 10
INFRASTRUCTURE DEVELOPMENT & INFRASTRUCTURE ASIA 2010
ASIA-PACIFIC MINISTERIAL CONFERENCE ON PUBLIC-PRIVATE PARTNERSHIPS FOR INFRASTRUCTURE DEVELOPMENT & INFRASTRUCTURE ASIA 2010
IPFA TO JOIN INF ...
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- Maheswari Brothers Coal Limited - India
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- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
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- Globalindo Alam Lestari - Indonesia
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- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
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- Merrill Lynch Commodities Europe
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- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
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- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
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- India Bulls Power Limited - India
- Minerals Council of Australia
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- Jindal Steel & Power Ltd - India
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- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- The University of Queensland
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- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
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- Sical Logistics Limited - India
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- Bayan Resources Tbk. - Indonesia
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- Central Electricity Authority - India
- New Zealand Coal & Carbon
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- Goldman Sachs - Singapore
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- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
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- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
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- Asmin Koalindo Tuhup - Indonesia
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- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
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- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
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- ICICI Bank Limited - India
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- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
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- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
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- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
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- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
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- GAC Shipping (India) Pvt Ltd
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- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Parliament of New Zealand
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- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
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- White Energy Company Limited
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- Commonwealth Bank - Australia
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- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
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- Singapore Mercantile Exchange
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- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
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- Bhatia International Limited - India
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- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
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- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
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