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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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Saturday, 08 September 12
INDO INDIA ROUTE FREIGHT FOR SUPRAMAX REMAINS STRONG - CAPT. REDDY
COALspot.com - The freight market overall remained weak and except for cape index all other sectors were down. The biggest drop was in the Panamax s ...
Saturday, 08 September 12
RIO TINTO COMPLETES ACQUISITION OF BHP BILLITON'S INTERESTS IN RICHARDS BAY MINERALS
Rio Tinto has doubled its holding in Richards Bay Minerals (RBM) following the completion of its acquisition of BHP Billiton’s entire inte ...
Friday, 07 September 12
HBA GAINS $ 1.56 PER MT IN SEPTEMBER
COALspot.com - The Indonesian government’s declared coal reference price has gained US$ 1.56 per MT M-o-M. This is the first gain ...
Thursday, 06 September 12
SOME ANCHORED PANAMAX VESSELS WAITING FOR CARGOS TO COME
Handy
According to Fearnleys weekly report, in the smaller segments Fearnleys sees little to no changes since last week. There are still entering s ...
Thursday, 06 September 12
DRY BULK CARRIERS STILL IN HIGH DEMAND AMONG SHIP OWNERS, BUT NEWBUILDING ACTIVITY SLIDES IN AUGUST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The slide of the dry bulk market this year hasn't abated ship owners' appetite for dry bulk carriers, as evidenced by the steady interest expresse ...
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Showing 4586 to 4590 news of total 6871 |
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- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Planning Commission, India
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Australian Coal Association
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
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