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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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Thursday, 02 August 12
OIL & GAS COMPANIES TO MEET IN MYANMAR FOR UPDATES ON NEW ROUND OF BIDDING AND INVESTMENT POTENTIAL IN UPSTREAM OIL, GAS, AND POWER GENERATION
Press Release - 2nd MOGP Summit (Myanmar Oil, Gas & Power) will convene in Yangon from 3 – 6 September 2012, to unveil new round of biddin ...
Thursday, 02 August 12
DRY BULK MARKET RATES CONTINUE SLUMP AMID SLOWER DEMAND NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on its downward path Wednesday, as the BDI (Baltic Dry Index) kept retreating to new lows. The index was down by 2.12 perce ...
Monday, 30 July 12
DRY BULK MARKET TO REMAIN UNDER PRESSURE FOR THE REST OF 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In an interview with Hellenic Shipping News Worldwide, Mr. Yannis Pachoulis, President of the Hellenic Shipbrokers' Association, remains cautiously ...
Sunday, 29 July 12
FREIGHT MARKET MOMENTUM CONTINUES TO WEAK
COALspot.com - The freight market continued to soft this week with all the segments dropped and the BDI fell below 1,000 points and closed at 933 po ...
Saturday, 28 July 12
CAL 2013 COAL SWAPS ARE HIGHER COMPARED TO SEPT 2012 PRICES
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery gain 0.47 percent on Friday (27 July 2012) closing DoD but lost 0.90 ...
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- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- The University of Queensland
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Australian Coal Association
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Planning Commission, India
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
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