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Tuesday, 07 August 12
THE JAKARTA POST EDITORIAL: REVISITING THE MINING LAW
 The Jakarta post, one of the leading English news paper in Indonesia writes in its editorial today, what the domestic and foreign investors had dreaded after the 2009 Mining and Coal law was enacted after more than three years of squabbling in the House of Representatives, has taken place.
The combination of inadequate institutional capacity, greed and corruption has resulted in the issuance of thousands of overlapping mining permits which contravened other laws, especially those regarding forestry and the environment.
The philosophy of the law was politically welcomed because the legislation devolves the authority for awarding mining licenses, outside oil and natural gas, to regional administrations (mostly regents). That was considered the best way of ensuring that natural resources are managed to serve the best interests of the local people.
Politicians in the House imagined the new legislation would better serve national interests, as it limits areas of exploration to 100,000 hectares, and cuts the validity of mining operations from a maximum of 70 years to 20, with two possible 10-year extensions.
Mining firms were expected to be more responsible, because, different from a contract of work, which integrates permits for all stages of mining operations, the new law requires companies to seek separate permits for each phase of mining activity – from exploration to feasibility studies and construction of production facilities. Mining firms must also process all mining products locally into metal starting in 2014.
But as more than 5,000 legally-flawed mining permits have been issued, many now question whether the decentralization of mining permits, mostly to regents, is in compliance with the 33rd article of the Constitution, which stipulates that the land, the waters and the natural resources within shall be under the powers of the state and shall be used to the greatest benefit of the people.
The shorter mining permits seem to have prompted reckless over-exploitation of resources, as can be seen in the exponential increase in unprocessed mineral exports over the past two years: nickel ore exports rose eightfold to 33 million tons in 2011, iron ore sevenfold to 13 million tons, copper more than tenfold to 14 million tons and bauxite fivefold to 40 million tons.
What makes everything even more murky, and causes legal black holes, are two contradictory provisions in the new law. One of them states that the sanctity of contracts of work in mining issued before the new law will be fully honored, but another provision stipulates that such pre-existing contracts must be adjusted to the provisions of the new law.
The Energy and Mineral Resources Ministry is now reviewing more than 5,000 legally defective mining permits, and has forced mining companies to be more serious in processing their minerals or metals locally by imposing export taxes on unprocessed mineral exports.
Such a piece-meal solution, let alone the issuance of ill-thought policy instruments as the surcharge on unprocessed mineral exports, is not effective in addressing the imbroglio that has been gripping the mining industry over the past three years.
The problem is that the central government itself took almost two years to prepare all the derivative regulations to implement the 2009 mining law. Hence, the law has been in full-fledged enforcement for only about two years now, while the implementation of many of its provisions on processing industry require more than three years of preparation and five years for construction.
In fact, it will take more than three years to increase the technical competence of district or regency administrations to enforce the law, and much longer for firms to plan and build smelters, which requires a huge amount of low-cost energy to be feasible.
It is thus a matter of urgency that the central government, regional mining chiefs and mining companies, sit down for an overall review of the mining law and make whatever adjustments are needed to make it politically and commercially enforceable.
Source: The Jakarta Post
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Tuesday, 11 April 23
OIL RISES ON CHINA STIMULUS EXPECTATIONS, WEAKER DOLLAR - REUTERS
Oil prices rose on Tuesday on expectations of potential economic stimulus by China, healthy demand in the rest of Asia and a drop in U.S. crude sto ...
Sunday, 09 April 23
CHINA’S BUSINESS INCOME REBOUND POINTS TO IMPROVING ECONOMY: OFFICIAL - XINHUA
Chinese businesses have posted a strong rebound in sales revenue since the beginning of this year in the latest signal of an improving economy.
...
Sunday, 09 April 23
COAL INDIA TO BOOST SUPPLIES TO INDUSTRIES AS UTILITIES’ INVENTORIES RISE - REUTERS
Coal India Ltd will increase supplies to industries, the world’s largest coal miner said on Wednesday as fuel inventories at utilities run by ...
Thursday, 06 April 23
MARKET INSIGHT - INTERMODAL
LNG Current Supply/Demand Dynamics
This year, LNG supply will likely exceed demand, so prices will need to decline to levels that will encourag ...
Sunday, 26 March 23
EUROPE’S RUSH TO LNG COULD TURN INTO 'WORLD’S MOST EXPENSIVE AND UNNECESSARY INSURANCE POLICY'- CNBC
Europe’s rapid buildout of liquefied natural gas infrastructure is on track to far exceed demand by the end of the decade, according to new r ...
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Showing 111 to 115 news of total 6871 |
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- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Planning Commission, India
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
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