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