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