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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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Showing 4621 to 4625 news of total 6871 |
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- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- White Energy Company Limited
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Posco Energy - South Korea
- Aditya Birla Group - India
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- The University of Queensland
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
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