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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, 25 August 12
FREIGHT RATES ARE EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - This week the indices showed some signs of improvement will all the segments moving up except for the handy size.
The BDI was marg ...
Saturday, 25 August 12
INDONESIAN COAL SWAP REMAINS STABLE AT LOW LEVEL
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for October 2012 delivery gain 0.804 percent W-o-W on Friday (24 August 2012) closing but lost 0. ...
Thursday, 23 August 12
INDONESIA-INDIA, LARGE ECO SUPRA FIXED AT USD 6K FOR DELIVERY SOUTH CHINA - FEARNLEYS AS
Handy
The market continued the same trend as last week, low activity and holidays in some countries.
Rate wise unchanged, with US Gulf/Continent ...
Thursday, 23 August 12
EGCO GROUP EXPANDS TOWARDS INTEGRATED ENERGY BUSINESS WITH INVESTMENT IN INDONESIAS COAL MINE
Electricity Generating Public Company Limited or EGCO Group, the Thailand’s first Independent Power Producer has continually invaded foreign m ...
Thursday, 23 August 12
EGCO GROUP ANNOUNCES 2 BILLION BAHT PROFITS IN Q2/2012
Successfully Establishes Integrated Energy Business and Strengthen Investments in ASEAN
Mr. Sahust Pratuknukul, President of Electri ...
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- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- PTC India Limited - India
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
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