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