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