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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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Thursday, 14 January 10
INDONESIA POWER REDUCES COAL SUPPLY
PT Indonesia Power will reduce coal supplies from PT Tambang Batu Bara Bukit Asam to its Suralaya Power Plant. "The coal supply for the plant s ...
Thursday, 14 January 10
INDIANS RESUME S. AFRICA COAL BUYING AGAINST INDEX - REUTERS
Indian trade buyers have resumed buying of South African prompt coal cargoes after a two-month hiatus but are opting for index-linked pricing, hopin ...
Wednesday, 13 January 10
STEAMING COAL SUPPLY SPOT CONTRACT FOR TAEAN POWER PLANT
COALspot.com (South Korea): Korea Western Power Co., Ltd is looking for total 1.12 million tons of Bituminous Coal for TAEAN Power Plant.
Accord ...
Wednesday, 13 January 10
INDONESIA ISSUES COAL, METAL DECREE
Indonesia has issued a ministerial decree which requires metal and coal miners to set aside a certain amount of their production for domestic needs, ...
Wednesday, 13 January 10
RESTING TIME FOR INDONESIAN COAL LOADING VESSELS
COALspot.com (Indonesia): 11 - 15 vessels are waiting in anchorages of Muara Berau and Tanjung Pemancingan to load total about 700,000 – ...
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- Chettinad Cement Corporation Ltd - India
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- Wood Mackenzie - Singapore
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- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
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- Economic Council, Georgia
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- Petron Corporation, Philippines
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- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
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- London Commodity Brokers - England
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- Ceylon Electricity Board - Sri Lanka
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- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
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- Africa Commodities Group - South Africa
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- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- White Energy Company Limited
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- Indian Energy Exchange, India
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- Gujarat Sidhee Cement - India
- Australian Coal Association
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- Electricity Generating Authority of Thailand
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- Indian Oil Corporation Limited
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- European Bulk Services B.V. - Netherlands
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- Independent Power Producers Association of India
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- Eastern Coal Council - USA
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- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
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- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
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- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
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