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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, 07 August 12
2ND ANNUAL FLOATING TERMINALS
Press Release - After a ground breaking and successful launch in 2011, the 2nd Annual Floating Terminals conferenceis back to address innovation, co ...
Tuesday, 07 August 12
KRISHNAPATNAM PORT HAS DISCHARGED 122,247 MTS OF COAL IN JUST 24 HRS
COALspot.com - Keeping with the tradition of the new records that are set at the Olympic Games 2012, Krishnapatnam Port has also achieved in setting ...
Tuesday, 07 August 12
BARAMULTI SET TO LIST ON BOURSE IN Q4 - JP
The Jakarta Post reported that, coal miner PT Baramulti Sukses Sarana is preparing to make its shares available to the public in the fourth quarter ...
Tuesday, 07 August 12
REALM RESOURCES COMPLETES STUDY ON ITS KATINGAN RIA COAL PROJECT
COALspot.com - Realm Resources Ltd. has announced that it has completed the Project Study for the Katingan Ria Project in Central Kalimantan, Indone ...
Monday, 06 August 12
3RD ANNUAL INDONESIA POWER
Press Release - 3rd Annual Indonesia Power is Indonesia’s premier power event, where commercial opportunities and new projects are identified. ...
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- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Parliament of New Zealand
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Marubeni Corporation - India
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
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