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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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Sunday, 26 February 23
MAWANI AND JEDDAH CHAMBER SIGN AN AGREEMENT TO BUILD INTEGRATED LOGISTICS PARK
Press Release: The Saudi Ports Authority (Mawani) and Jeddah Chamber of Commerce and Industry have today inked an agreement to set up an integrated ...
Saturday, 25 February 23
INDONESIA IS STILL BY FAR THE TOP SUPPLIER OF COAL TO CHINA - BANCHERO COSTA
After a slow start in the first quarter, global coal trade has really picked up pace last year, and is now fully back to pre-Covid levels, said ban ...
Wednesday, 22 February 23
MARKET INSIGHT - INTERMODAL
The short-term outlook of the global soybean market is currently pivoted by a combination of weather patterns that are affecting the harvest progre ...
Saturday, 18 February 23
OIL UNLIKELY TO BREAK ABOVE $100/BBL THIS YEAR, J.P.MORGAN SAYS –- REUTERS
Brent oil prices are unlikely to breach the $100 a barrel level this year, barring any significant geopolitical drivers, with OPEC+ potentially add ...
Saturday, 18 February 23
CHINA'S COAL PRICES FALL TO 1 YR-LOW, CLOUDING DEMAND AND IMPORT OUTLOOK - REUTERS
China’s thermal coal prices hit their lowest levels in a year this week on rising inventories as domestic mine production is recovering faste ...
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- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
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