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