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