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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, 04 September 12
SHIP OWNERS' COMPETITION LEADS TO TANKER FIXTURES BELOW OPERATING COSTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners operating in the VLCC tanker markets are increasingly finding it difficult to obtain even breakeven rates for their vessels, as competit ...
Tuesday, 04 September 12
ORPHEUS SECURES ADDITIONAL SIGNIFICANT KINTAP COAL PROJECT IN SOUTH KALIMANTAN
COALspot.com - Indonesian coal producer, Orpheus Energy (ASX:OEG) has announced that it has secured a 50% equity ownership in an additional tenement ...
Monday, 03 September 12
SHIPOWNERS TO WAIT FOR FURTHER PRICE REDUCTIONS IN THE SECOND HAND VESSEL MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With September now upon us, shipbrokers are looking towards an interesting winter season, as ship owners are looking to capitalize on more second ha ...
Sunday, 02 September 12
ADAROS COAL ROYALTIES TO THE GOVERNMENT INCREASED BY 10.5 PERCENT Y-O-Y TO US$196.8 MILLION
COALspot.com - PT Adaro Energy Tbk (IDX: ADRO), the second largest power plant coal producer in Indonesia, announced its consolidated auditor-review ...
Saturday, 01 September 12
FALLING PRICES; BLEEDING MINERS
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for October 2012 delivery lost 4.070 percent and 0.422 percent respectively on W-o-W and D- ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- CNBM International Corporation - China
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
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