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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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Monday, 20 August 12
CHINESE COAL SWAPS RISE, INDONESIAN COAL CONTRACTS SOFT
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for October 2012 delivery lost -2.05 percent W-o-W on Friday (17 August 2012) closing but gained ...
Saturday, 18 August 12
BULK FREIGHT MARKETS CONTINUED THEIR DECLINE IN LINE WITH WEAK DEMAND - VISTAAR
COALspot.com - This week also the indices fell on all segments with BDI touching lowest in almost 3 years.
The BDI closed at 714 points down by 7 ...
Thursday, 16 August 12
PUBLIC PRIVATE PARTNERSHIPS CONFERENCE 2012
Press Release - Asia’s Premier Public Private Partnerships Conference 2012 will showcase commercial opportunities for investors and developers ...
Wednesday, 15 August 12
UT GENERATED RP 3.09 TRILLION NET INCOME
COALspot.com - As of June 2012 Indonesia’s heavy equipment market grew 14%, from 8,448 units to 9,618 units (based on UT’s internal mark ...
Tuesday, 14 August 12
SAKARI ENTERED INTO JV IN CAMBODIA TO EXPLORE COAL OPPORTUNITIES
COALspot.com - Sakari joints hands with The Royal Group of Companies in Cambodia to explore and develop coal opportunities throughout the country.
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- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- The University of Queensland
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Planning Commission, India
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- CNBM International Corporation - China
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Thai Mozambique Logistica
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