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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, 25 April 09
KPC DEVELOPS EAST KALIMANTAN WITH GOVT - THE JAKARTA POST
Kaltim Prima Coal (KPC) focuses on several areas in its CSR projects to help the government increase the welfare of the community living around the ...
Friday, 24 April 09
NAPOCOR TO TENDER FOR 195,000 T COAL - ABS-CBNNEWS.COM
Top Philippine electricity producer National Power Corp. (Napocor) said on Friday it will hold a tender on May 20 to buy 195,000 tons of steam coal ...
Friday, 24 April 09
NTPC TO DELVE INTO CONTRACT MINING - ECONOMICTIMES
NTPC, India’s largest power producer, plans to cash in on its decades-old experience in handling coal mines by spinning off a separate u ...
Wednesday, 22 April 09
PROTECTED FORESTS FACING UNDERGROUND MINING THREAT - THE JAKARTA POST
The government is soon to issue a presidential regulation allowing mining companies to mine underground in protected forest areas, despite a recent ...
Tuesday, 21 April 09
MITRA RAJASA TO ACQUIRE TWO MINING COMPANIES - THE JAKARTA POST
PT Mitra Rajasa Tbk plans to acquire PT Realita Jaya Mandiri and PT Masindo Artha Resources in South Sumatra, which are worth around US$40 million.
...
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- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Australian Coal Association
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- The University of Queensland
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- CNBM International Corporation - China
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Planning Commission, India
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
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