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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, 01 September 12
PANAMAX FREIGHT RATES UNDER PRESSURE FROM LOW DEMAND - VISTAAR
COALspot.com - This week the freight market was weak with mixed results.
The BDI was down by 1.95 pct closing at 703 points, however there was so ...
Friday, 31 August 12
ADVERSE SHIPPING MARKET CONDITIONS SHORTENS LIFE SPAN OF VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The adverse conditions which have been put in place in the world's freight markets, means that ship owners are forced to scrap vessels of a much yo ...
Thursday, 30 August 12
INDO-INDIA, LARGE ECO SUPRA NOW FIXED AT USD 7K FOR DELIVERY SINGAPORE - FEARNLEYS AS
Handy
The Supra market continued its negative trend with little fresh business entering the market. Continent positions fixed around USD 4k for tri ...
Thursday, 30 August 12
DRY BULK MARKET STILL LOOKING OUT FOR BETTER DAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With things in China moving slowly this week, as a result of holidays, it’s no surprise that the latest positive trend in the dry bulk market ...
Wednesday, 29 August 12
COLOMBIA'S MINING BOOM: PART TWO - JOSEPH KIRSCHKE
One of the most prominent casualties of Canada's entry into the Colombian mining sector has been a priest named Jose Reynal-Restrepo. Last Septembe ...
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- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- GMR Energy Limited - India
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- White Energy Company Limited
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
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