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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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Saturday, 11 August 12
INDONESIAN COAL REFERENCE PRICE HAS LOST 27.78 PERCENT YOY
COALspot.com - Indonesian HBA fell again in August.
The monthly coal reference price for coal sales this month fell 3.32 percent. HBA fell ...
Saturday, 11 August 12
SUB-BIT INDONESIA COAL SWAPS SEEN MOVING IN THE RIGHT DIRECTION
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery gain 1.29 percent W-o-W on Friday (10 August 2012) closing but lost 1 ...
Friday, 10 August 12
DRY BULK MARKET DROWNING FROM TONNAGE OVERSUPPLY - HELLENIC SHIPPING
The dry bulk market has been overflowing with new building vessels, despite the fact that demand is more or less (and minus the seasonal factors) ri ...
Thursday, 09 August 12
3RD ANNUAL SHALE GAS
Press Release - With the North American shale gas boom, IBC’s 3rd Annual Shale Gas explores optimal strategies to monetize Asia’s domest ...
Wednesday, 08 August 12
EXPLOITASI AIMS TO RAISE RP 2.7T FOR ACQUISITION - THE JAKARTA POST
The Jakarta Post reported that, publicly listed coal miner PT Exploitasi Energi Indonesia (CNKO) is seeking to raise Rp 2.7 trillion (US$286.2 milli ...
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- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Central Electricity Authority - India
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- MS Steel International - UAE
- Attock Cement Pakistan Limited
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