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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, 14 August 12
SAKARI SIGNS HEADS OF AGREEMENT TO ACQUIRE SIX COAL CONCESSIONS IN INDONESIA
COALspot.com - Sakari has signed a Heads of Agreement (HOA) to acquire a 100% interest in up to six IUPs, covering an area of over 29,000 hectares, ...
Tuesday, 14 August 12
UNCERTAIN FUTURE FOR DRY BULK PANAMAX SHIPS - DREWRY / HELLENIC SHIPPING
The dry bulk shipping market is in a poor state, with the Capesize segment the worst of all. Unfortunately, the latest analysis from Drewry Maritime ...
Monday, 13 August 12
5TH VIETNAM PORTS AND LOGISTICS 2012
Press Release - Co-hosted by VINAMARINE, the 5th Vietnam Ports and Logistics2012 will feature dedicated sessions on port and transport infrastructur ...
Monday, 13 August 12
ACTIVE DRY BULK FLEET INCREASES BY 8% SO FAR IN 2012 IN TERMS OF TONNAGE CAPACITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It’s no wonder that the dry bulk market has been tethering since the start of the year. the overflow of tonnage has been so enormous, that eve ...
Sunday, 12 August 12
COAL FREIGHT RATES FALL FLAT TO SOFT ON OVERSUPPLY, WEAK DEMAND - VISTAAR SINGAPROE
COALspot.com - The BDI continued its fall 10th August.
This week all segments were down including BDI down by 9.15 pct closing at 774 points .The ...
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- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Australian Coal Association
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Planning Commission, India
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Bhatia International Limited - India
- VISA Power Limited - India
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Coal and Oil Company - UAE
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