We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Wednesday, 29 April 09
NEW GOV'T REGULATION SHOULD INCORPORATE CONFLICT SETTLEMENT BODY - ICMA (MAJALAH TAMBANG)
A draft government regulation on mineral and coal is currently in a process of completion. The Indonesian Coal Mining Association (ICMA) proposed th ...
Tuesday, 28 April 09
S'PORE COURT RULES AGAINST DEUTSCHE ON ASSET SALE - REUTERS
Singapore's highest court has ruled that Deutsche Bank (DBKGn.DE) may have to pay unspecified damages to an investment firm as it did not get the b ...
Tuesday, 28 April 09
WORLD THERMAL COAL PRICE EXPECTED TO CRASH - PURCHASING.COM
Macquarie Bank sees 50% drop to $60/ton in 2009
Macquarie Bank today forecast the 2009 average market price for world thermal coal at $60/ton, a ...
Tuesday, 28 April 09
THAI LANNA TO OPEN NEW INDONESIAN MINE BY Q3 - REUTERS
Thailand's Lanna Resources PCL LANN.BK said on Monday it planned to open a new coal mine in Indonesia by the third quarter of 2009 with an initial ...
Tuesday, 28 April 09
SOUTH AFRICAN EXPORT COAL RETREATS ON WEAKER EUROPEAN DEMAND - BLOOMBERG
Prices for coal shipped from South Africa’s Richards Bay, site of the world’s largest export terminal for the fuel, fell for a second co ...
|
|
|
Showing 6781 to 6785 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
|
| |
| |
|
