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