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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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- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Planning Commission, India
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
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