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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, 08 January 23
ELEVATED COAL PRICE A DRAG ON MARGINS OF DOMESTIC BASE METAL PLAYERS: ICRA
The increased price of coal continue to be a drag on the margin of domestic base metal players with no immediate relief in sight, rating agency ICR ...
Monday, 02 January 23
CHINA’S COAL CONSUMPTION TO PEAK BY 2035: REPORT - REUTERS
China’s primary energy consumption is likely to peak at nearly 6.03 billion tonnes of standard coal between 2030 and 2035, refining giant Chi ...
Thursday, 29 December 22
INDIA'S COAL DEMAND LIKELY TO PEAK BETWEEN 2030-2035: MINISTER - ANI
The demand for coal in India will continue and is likely to peak between 2030-2035, Union Minister of Coal, Mines, and Parliamentary Affairs Pralha ...
Thursday, 29 December 22
RIO TINTO AND PARTNERS COULD RECEIVE AS MUCH AS $450M IN GOVERNMENT COMPENSATION FOR COAL PRICE CAP - THE GUARDIAN
Compensation payments for the Gladstone power plant remain the sticking point in the federal government’s coal price cap compensation negotia ...
Wednesday, 28 December 22
MARKET INSIGHT - INTERMODAL
The United Nations Conference on Trade and Development (UNCTAD) published a Global Trade Update on December 13th highlighting that global trade wou ...
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- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Planning Commission, India
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
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