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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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Friday, 04 December 09
CHINA'S COAL IMPORTS PREDICTED TO DECLINE IN 2010
China's eye-catching coal import figure s are unlikely to extend into 2010 given the predicted narrow-down of the coal price spread between the hom ...
Friday, 04 December 09
SUBHASH PROJECTS BEGINS MINING AT INDONESIAN COAL BLOCK
Kolkata-based infrastructure company Subhash Projects and Marketing (SPML) has begun mining at its coal block in Indonesia and will begin despatchin ...
Friday, 04 December 09
DRY BULK MARKET IS ON THE RISE AGAIN
Proving rather resilient, compared to previous behaviors, the dry bulk market has been on a rebound mode once again, after a two-week fall, which su ...
Friday, 04 December 09
INDONESIA'S BUMI EYES MARKETING DEAL FOR BERAU COAL
Reuters reported that, Indonesian coal miner PT Bumi Resources Tbk said on Thursday it is in talks to be the exclusive marketing agent for coal prod ...
Friday, 04 December 09
KALIMANTAN GOLD AGREES TO SELL IBP COAL CONCESSION
COALspot.com ( Press Release): Kalimantan Gold Corporation Limited ("KLG" or the "Company"), which undertook drilling and had an ...
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- The University of Queensland
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- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
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- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
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- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
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- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Tata Chemicals Ltd - India
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- ICICI Bank Limited - India
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- Renaissance Capital - South Africa
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- Aboitiz Power Corporation - Philippines
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- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Parliament of New Zealand
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- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
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- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
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- The Treasury - Australian Government
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- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
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- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
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- Xindia Steels Limited - India
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- VISA Power Limited - India
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
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- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
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- GVK Power & Infra Limited - India
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- White Energy Company Limited
- Price Waterhouse Coopers - Russia
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- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
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- Chamber of Mines of South Africa
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- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
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