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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, 13 December 22
AUSTRALIA TO CAP PRICES OF COAL, GAS TO DRIVE DOWN ENERGY BILLS - REUTERS
Australia will cap coal and gas prices for a year in a bid to shave utility bills for households and businesses hit by soaring costs because of the ...
Tuesday, 13 December 22
YANCOAL AUSTRALIA TO PREPAY $459 MLN DEBT AS RECORD COAL PRICES BOOST CASHFLOWS - REUTERS
Coal miner Yancoal Australia Ltd. said on Friday it intended to prepay $459 million of its debt on or around Dec. 16, as elevated coal prices were ...
Tuesday, 13 December 22
WHY COAL LEADS THE RISE IN COMMODITIES THIS YEAR - MARKETWATCH
This year marked a resurgence for coal, often known — and loathed — by environmentalists as the dirtiest energy source, with prices mor ...
Thursday, 08 December 22
BIMCO TO REVISE WAR RISK CLAUSES
Work to revise the BIMCO War Cancellation Clause 2004, the BIMCO War Risks Clause for Time Chartering 2013 (CONWARTIME 2013) and the BIMCO War Risk ...
Thursday, 08 December 22
COAL ROYALTY PAYMENTS BOOST AUSTRALIAN STATE'S BUDGET FORECAST - REUTERS
Australia’s Queensland state on Wednesday forecast a record surplus for the current financial year, largely driven by higher royalty payments ...
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- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Planning Commission, India
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Minerals Council of Australia
- Australian Coal Association
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
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