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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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Saturday, 18 March 23
HEDGE TO OFFSET LNG VOLATILITY, TRADERS TOLD - BALTIC EXCHANGE
A shift in imports from Asia to Europe led to significant volatility in liquefied natural gas shipping last year, prompting industry experts to urg ...
Friday, 17 March 23
INDONESIAN COAL PRICE REFERENCE UP AROUND 2.17% IN MARCH 2023
COALspot.com: Indonesian Coal Price Reference up around 2.17% in March 2023.
According to the new HBA regulation No. 41.K/MB.0 ...
Saturday, 11 March 23
MARKET INSIGHT - INTERMODAL
Uncertainty over the recovery of Chinese demand, demand destruction in Europe, as well as weather conditions will pivot the LNG market this summer. ...
Wednesday, 08 March 23
INDONESIAN COAL REFERENCE PRICE FORMULA HAS OFFICIALLY CHANGED
Indonesian Minister of Energy and Mineral Resources has officially changed the guideline for determining the benchmark price for the sale of coal c ...
Thursday, 02 March 23
INDIA'S SEABORNE CRUDE OIL IMPORTS IN 2022 INCREASED BY 11.5% YOY - BANCHERO COSTA
2022 has turned out to be a very positive year for crude oil trade, despite the surging oil prices and risks of economic recession, Banchero Costa ...
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- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- The University of Queensland
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
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