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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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Tuesday, 21 April 09
INDONESIAN GOVT TO ALLOW UNDERGROUND MINING IN PROTECTED FORESTS - THE JAKARTA POST
The government will issue a regulation allowing mining companies to carry out underground mining in protected forests.
"This regulation will ...
Tuesday, 21 April 09
INDONESIAN GOVT LIKELY TO MISS INVESTMENT TARGETS FOR ENERGY, MINING - THE JAKARTA POST
The total value of investments in energy and mining sectors by the end of the year is likely to be below the government’s target, as a result of ...
Monday, 20 April 09
INDONESIAN COAL MINING ASSOCIATION CALLED TO CONTROL MINERS - MAJALA TAMBANG
The Indonesian Coal Mining Association (ICMA) is called to expand its membership further in view of controlling the conduct of miners in the nationa ...
Monday, 20 April 09
BANPU PLANS TO SHIP 2 MLN T COAL TO CHINA IN 09 - REUTERS
Banpu, Thailand's largest coal miner, plans to increase coal shipments to China by about 30 percent to 2 million tonnes in 2009, company officials ...
Monday, 20 April 09
INDO TAMBANGRAYA 2009 OUTPUT TO GO UP 16% - THE JAKARTA POST
Indonesia's third largest coal producer, publicly listed PT Indo Tambangraya Megah (ITM), is targeting to raise production by 16 percent this year ...
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- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
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