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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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Monday, 18 January 10
BHP TO SPEND $267 MILLION ON QUEENSLAND COKING COAL
BHP Billiton Ltd, the world’s largest mining company, will spend $267 million to accelerate development of the Caval Ridge mine and the Hay Po ...
Sunday, 17 January 10
THE FUTURES FOR THREE YEARS (2010 - 2012) FIRMED UP - VISTAAR SINGAPORE
COALspot.com (Singapore): The freight market was a bit mixed with BDI up by about 159 points and closed at 3,299 points.
BDI
The cape index cont ...
Sunday, 17 January 10
NTPC TO DOUBLE CAPACITY BY 2017
NTPC, which will launch its follow-on public offer on February 3, plans to more than double its generating capacity to over 70,000 mega watts by 201 ...
Saturday, 16 January 10
HANDY CONTINUED FIRM CONDITIONS FOR MARKET IN THE ATLANTIC
HANDY
Continued firm conditions for the Handymax / Smax market in the Atlantic with the BSI having a continued upwards momentum. US$ 45,000 ac ...
Friday, 15 January 10
INDONESIA COAL - HEAVY RAINS HAVE LITTLE IMPACT ON COAL OUTPUT
Coal shipments from Indonesia's main coal-producing area are unlikely to be hit by heavy rains during January-February as many miners are prepared ...
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- Economic Council, Georgia
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- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
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- Australian Coal Association
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- Savvy Resources Ltd - HongKong
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- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
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- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
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- Global Coal Blending Company Limited - Australia
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- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- MS Steel International - UAE
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- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
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- Deloitte Consulting - India
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- Samtan Co., Ltd - South Korea
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- Sinarmas Energy and Mining - Indonesia
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- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
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- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
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- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
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- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
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- White Energy Company Limited
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- Kumho Petrochemical, South Korea
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- SN Aboitiz Power Inc, Philippines
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- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
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- Formosa Plastics Group - Taiwan
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- Renaissance Capital - South Africa
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
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- Mercator Lines Limited - India
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- Independent Power Producers Association of India
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- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
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