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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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- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Australian Coal Association
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- PTC India Limited - India
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Planning Commission, India
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
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