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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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Monday, 06 August 12
COAL EXPORTS COULD ADD $2B TO $6B ANNUALLY TO U.S. ECONOMY - HELLENIC SHIPPING
Business groups backing Pacific Northwest coal export proposals on Thursday lauded a new report that claims increased U.S. coal exports could bring ...
Sunday, 05 August 12
SUB-BIT INDONESIA COAL SWAPS ARE WAY UP
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery gain 1.36 percent on Friday (3 August 2012) closing W-o-W but gained& ...
Sunday, 05 August 12
INDONESIA'S ADARO TRIMS PRODUCTION FORECAST, CITES BAD ECONOMY - THE JAKARTA GLOBE
The Jakarta globe reported that, Adaro Energy, the country’s second-largest coal producer, has cut its annual production forecast to between ...
Sunday, 05 August 12
DRY BULK FREIGHT MARKET TO STAY WEAK NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com - The freight market continued to soften further in all segments.
The BDI was down by 8.68 pct closing at 852 points. The cape index ...
Friday, 03 August 12
INDIA - LIGHTS OUT! - SALVA
The Indian power sector hit global headlines this week for all the wrong reasons. Firstly, on Monday, over 350 million people lost power across nort ...
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- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Australian Coal Association
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
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