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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, 05 January 10
WINTER WEATHER SPIKES COAL PRICES - CHINA UPDATE
Cold weather is driving coal prices higher and will lend the advantage in annual negotiations to suppliers, analysts said, predicting that the risin ...
Monday, 04 January 10
TOKYO ELECTRIC SEALS XSTRATA COAL DEAL
Tokyo Electric Power Co has agreed to pay about $US85 a tonne for Australian thermal coal in 2010 from miner Xstrata, a source familiar with the pri ...
Monday, 04 January 10
IND-BARATH TO SHIFT PROJECT FROM AP TO TN
Hyderabad-based power producer Ind–Barath is planning to set up a power plant at Tuticorin, Tamil Nadu. The proposed project would attract inv ...
Sunday, 03 January 10
NEWCASTLE THERMAL COAL PRICES FALL IN FIRST DECLINE IN 3 WEEKS
Power-station coal prices at Australia’s Newcastle port, a benchmark for Asia, declined 1.5 percent, falling for the first time in three weeks ...
Sunday, 03 January 10
NTPC SEEKS REPORT ON TRANSPORTING COAL THROUGH WATERWAYS
State-run National Thermal Power Corporation (NTPC), the country’s largest power utility, has asked for a “holistic” feasibility r ...
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- SMG Consultants - Indonesia
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- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
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- Indonesian Coal Mining Association
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- Tamil Nadu electricity Board
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- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
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- Economic Council, Georgia
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- Central Java Power - Indonesia
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- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
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- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
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- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- The Treasury - Australian Government
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- Merrill Lynch Commodities Europe
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- SMC Global Power, Philippines
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- Posco Energy - South Korea
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
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- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
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- CNBM International Corporation - China
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- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
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- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
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- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
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- Orica Australia Pty. Ltd.
- Minerals Council of Australia
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- VISA Power Limited - India
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- Ministry of Mines - Canada
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- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
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- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
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- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
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- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
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- Ambuja Cements Ltd - India
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