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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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Monday, 20 April 09
PT PAMAPERSADA SEES ITS REVENUE TO CLIMB BY 20% IN 2009 - STEELGURU
PT Pamapersada Nusantara, a unit of Indonesia's PT United Tractors, said that its 2009 profit will be similar to last year, even as it forecasts re ...
Monday, 20 April 09
NIPPON STEEL SEMI-SOFT COAL PRICE SAID TO DROP 67% - BLOOMBERG
Nippon Steel Corp., Japan’s largest mill, will pay up to 67 percent less for semi-soft coking coal this fiscal year, two industry executives w ...
Monday, 20 April 09
INTERNATIONAL INVESTORS SEEK TO SELL ADARO STAKES - MONEY.CNN
Some international investors in PT Adaro Energy ( ADRO.JK) have approached other companies to sell around a combined 17% stake in the coal miner via ...
Friday, 17 April 09
BHATIA COAL INDIA, VITOL IN DISPUTE - COAL JUNCTION
Bhatia Coal India, a subsidiary of the Bhatia International Group, terminated a coal supply contract with traders Vitol and has initiated arbitratio ...
Friday, 17 April 09
JSW TO BUY THERMAL COAL MINE IN AFRICA
Sajjan Jindal-led JSW Energy is close to acquiring a sub-Saharan African thermal coal mine, which has reserves of more than 200 million tons, to min ...
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- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- White Energy Company Limited
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- PTC India Limited - India
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
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