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