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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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Saturday, 02 May 09
BUMI'S FIRST-QUARTER PROFIT RISES 21% ON COAL PRICE - BLOOMBERG
PT BUMI RESOURCES, Asia’s biggest exporter of power-station coal, said first-quarter profit rose 21 percent after it earned higher prices for ...
Saturday, 02 May 09
COAL PRICES TO RISE ON CHINESE SUPPLY, INDIAN DEMAND, UBS SAYS
Peter Hickson, an analyst with UBS AG in London, comments on prices for thermal coal, burned to generate power. He commented in a report today.
& ...
Friday, 01 May 09
DEUTSCHE, BECKKETT CLAIMING ADARO WIN - THE JAKARTA GLOBE
Both Deutsche Bank AG and Beckkett, an investment firm controlled by Indonesian tycoon Sukanto Tanoto, claimed victory on Tuesday after Singapore&rs ...
Thursday, 30 April 09
SAN MIGUEL IN TALKS TO BUY STAKE IN ADARO - REUTERS
San Miguel Corp is in talks to buy a stake worth about $500 million in Adaro Energy , Indonesia's largest coal producer by market value, the Philip ...
Wednesday, 29 April 09
BAYAN READY TO OPERATE WORLD'S LARGEST COAL QUALITY IMPROVEMENT FACILITY - MAJALAH TAMBANG
PT. Bayan Resources Tbk. (hereinafter referred to as Bayan), an Indonesian coal manufacturer, announced that they are ready to operate the world's ...
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- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- PTC India Limited - India
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
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