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Saturday, 25 April 09
MINING SECTOR IS STILL ON THE SURPLUS - THE JAKARTA POST
The global financial crisis is apparently also having an impact on the mining sector. People are thinking twice about investing in the mining sector, especially in companies that carry a high risk, such as those in the exploration business.
Stock prices in numerous countries, including in Indonesia, have declined. From the percentage point of view, the decline in the combined stock price index at the Indonesian Stock Exchange has been rather drastic. The financial crisis has also affected the energy and mineral resources sector.
As investors are reluctant to invest in exploration companies, the effects will be felt in three years when there are no new discovery or mining reserves. What then is the future of the mining sector in Indonesia after the worldwide economic downturn?
"The future of mining in Indonesia is still bright as no company here has experienced any losses due to the global financial crisis. This is quite a relief," said the vice chairman for energy and mineral resources of the Indonesian Chamber of Commerce and Industry (Kadin), Herman Afif Kusuma, in Jakarta on April 14.
According to Herman, it would be wrong to say that a number of mining companies have experienced losses due to the crisis when in fact they have simply made less profit. "Indeed, there is a reduction in profit during booming times, but there aren't any mining companies that have experienced losses due to the crisis," said Herman.
The chairman of the Indonesian Mining Community (MPI) said that there was no reason for mining companies here to lay off employees, even less so if they use the global financial crisis as a reason. "We must be on guard against such things," he stressed.
He acknowledged, however, that the mineral sector had received a hard blow, while the energy sector was experiencing no problems because selling prices were relatively normal.
The hardest hit companies are the major foreign investors, such as PT Freeport and PT Inco, but they have not experienced any losses.
Herman explained that mining companies that purchased concessions two or three years ago were experiencing problems amid the crisis as prices for mining products had significantly dropped.
He also admitted, however, that the global crisis had made most investors adverse to investing in the mining sector, so that infrastructure development had been shelved.
He also mentioned that the lack of legal certainty had a negative impact on investments in the mining sector. He explained that the Mineral and Coal Law leaves a number of questions unanswered for foreign investors, including the change in contract mechanism from government-to-business to business-to-business, meaning contracts will not be awarded by the government but by a business entity formed by the government. There is also a question regarding the continuation of contracts that were awarded to investors before the new Mineral and Coal Law comes into effect.
However, Herman was optimistic that after the Mineral and Coal Law comes into effect it would attract foreign investment in the domestic mining sector.
So far, at least three foreign investors have expressed interest in investing, namely Rio Tinto, BHP and a Russian company. The Mineral and Coal Law, which replaces Law No. 11/1967, can accommodate the interests of many parties and defines the authority of the central government and regional administrations.
Meanwhile, Indonesian Coal Mining Association (APBI) chairman Jeffrey Mulyon recently said that the global financial crisis was having an impact on the domestic mining sector and all parties needed to formulate the best solution so that domestic mining companies do not collapse.
Anticipation is important as the mining sector makes a huge contribution to the Indonesian economy by employing millions of people. Data as per September 2008 shows that the mining sector contributed 11.54 percent to the nation's Gross Domestic Product (GDP) amounting to Rp 142.1 trillion. If many mining companies go bankrupt, then the government would have another heavy burden as unemployment would increase.
He said that the crisis should not be taken too lightly or be regarded simply as a business matter. The decline of coal, oil and gas prices are not due to faults within the industry, and therefore mining companies should be saved for the benefit of regional economies.
Previously, Indonesian Statistics Agency (BPS) chairman Rusman Heriawan said that in the first quarter of 2009, there would be a decline in processing, mining and exploration activities. However, other sectors face brighter prospects, such as farming, finance, rental business and service companies.
In the meantime, PricewaterhouseCoopers Indonesia (PwC) reported that although the mining industry here recorded good financial results in 2007, new exploration projects were few.
"Indonesia has less geological attractiveness," said technical advisor of PwC for the mining sector Sacha Winzenried recently.
However, Winzenried stated that this sector had made a large contribution to state revenue. In 2007, the sharp increases in mining commodity prices generated huge profits.
What is unfortunate though is that the huge profits between 2002 and 2007 were mostly from sharp increases in commodity prices and not from the expansion of mining activities.
Source: http://www.thejakartapost.com/news/2009/04/24/mining-sector-still-surplus.html
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Tuesday, 05 May 09
NEWCASTLE PORT'S WEEKLY COAL EXPORTS INCREASE - BLOOMBERG
COAL shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, rose 18 percent last week while the numb ...
Tuesday, 05 May 09
INDONESIA'S ADARO PAYS $78.6 MLN FOR COAL-BARGING FIRM - REUTERS
INDONESIA's largest coal producer by market value, PT Adaro Energy Tbk, said late on Monday it paid $78.6 million for a 74 percent stake in Orchard ...
Tuesday, 05 May 09
PHILIPPINES SEMIRARA STILL EXPECTS HIKE IN COAL SALES - BUSINESS MIRROR
DESPITE the anticipated soft demand resulting from the prevailing global financial crisis, the country’s largest coal producer Semirara Mining ...
Monday, 04 May 09
VISTAAR SINGAPORE SAYS, THIS MONTH DRY BULK FREIGHT LIKELY TO COME DOWN
COALspot.com (Singapore) - VISTAAR shipping Services Pte Limited of Singapore, said, the beginning of last week started with bit of weakness an ...
Monday, 04 May 09
PNOC-EC TO GROW COAL OPERATIONS - PHILIPPINE DAILY INQUIRER
LISTED firm Philippine National Oil Co.-Exploration Corp. plans to expand its operations this year to ensure the steady supply of coal and fur ...
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- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- The University of Queensland
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
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