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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, 13 September 12
PANAMAX: THE NEGATIVE TREND, POOR SENTIMENT CONTINUES - FEARNLEYS AS
Handy
Lack of cargoes and a growing list of available ships is causing rates to slip for all Atlantic trades.
The only trade keeping somewhat s ...
Thursday, 13 September 12
FUEL EFFICIENT SHIPS MAY BE MORE EXPENSIVE, BUT THEY MAKE FINANCIAL SENSE SAYS ANALYSIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The latest trend in shipbuilding is the so called "Eco" ship, i.e. ships which offer much better fuel consumption and are more cost-effect ...
Wednesday, 12 September 12
INDIAS COALGATE: TIME FOR A ROOT CANAL
A recent report from India’s Comptroller and Auditor General (CAG) pertaining to the allocation of coal blocks has created a political storm i ...
Tuesday, 11 September 12
CLOUDY AND POLICY RISK INDONESIAN COAL INDUSTRY
COALspot.com - Bahana Securities in its latest coal outlook, commented on the Indonesian coal market, with economic slowdown in the four largest coa ...
Tuesday, 11 September 12
SHIP OWNERS KEEN ON SECOND HAND VESSEL PURCHASES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With most ship owners back from their summer rest, things are starting to pick up again in the second hand vessel market, with more and more deals b ...
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- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- The University of Queensland
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
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