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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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Thursday, 22 December 22
RUSSIAN OIL EXPORTS CRATER BY 54% IN THE FIRST FULL WEEK OF THE EU'S EMBARGO AMID A SHORTAGE OF TANKERS WILLING TO CARRY CARGOES - BUSINESS INSIDER
Since the European Union imposed its seaborne crude sanctions, Russian oil exports have tumbled by more than half, according to data compiled by Bl ...
Thursday, 22 December 22
CHINA TIGHTENS VERIFICATION OF SHIPS’ ENERGY CONSUMPTION DATA - GARD
From 22 December 2022, ships trading to Chinese ports must record their energy consumption data in accordance with the requirements of their Ship E ...
Thursday, 22 December 22
AN OVERVIEW OF THE LNG MARKET - VESSELSVALUE
LNG values have continued to strengthen, spurred by skyrocketing earnings that have surpassed last year’s record breaking peaks. In November, ...
Thursday, 22 December 22
COKING COAL SLUMPS AS TALKS ON AUSTRALIA-CHINA TRADE RIFT LOOM - REUTERS
Chinese coking coal futures dropped more than 3 per cent on Tuesday (Dec 20), extending losses, as supply of the steelmaking input might increase i ...
Thursday, 22 December 22
COAL AND GAS PRICE CAPS MAY COMPOUND POLITICAL RISK FOR AUSTRALIAN CORPORATES - FITCH RATINGS
Australia’s introduction of temporary price caps on domestic sales of gas and coal used for electricity generation will probably have limited ...
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Showing 161 to 165 news of total 6871 |
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- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Planning Commission, India
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
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