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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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Friday, 27 July 12
PACIFIC MARKET REMAINED FLAT - FEARNLEYS AS
Handy
The Atlantic market continued its downward trend from last week with what appears to be a summer lull across the board. A trip from the USG t ...
Wednesday, 25 July 12
BUKIT ASAMS H1 REVENUE JUMPED BY 13 PERCENT
COALspot.com - PT Bukit Asam (Persero), Tbk., the state owned coal miner's revenue in H1 2012, has jumped 13 percent to IDR 5.79 trillion (approxim ...
Wednesday, 25 July 12
BUMI RESOURCES MINERALS SECURED PINJAM PAKAI FOR ITS ZINC AND LEAD PROJECT
COALspot.com - PT Bumi Resources Minerals Tbk. ("BRMS" or "the Company") today reported that its 80% owned subsidiary, PT Dairi ...
Tuesday, 24 July 12
SHIP OWNERS WAITING FOR SHIP PRICES TO FALL FURTHER BEFORE MOVING IN MORE AGGRESSIVELY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the summer season already well under way and many ship owners getting ready for the autumn, the sale & purchasing activity of second hand v ...
Monday, 23 July 12
NTPC INVITES BIDS FOR 2.6 MILLION TONS OF LOW MOISTURE IMPORTED COAL
COALspot.com - India’s largest electricity generator, NTPC Limited, incorporated in 1975 as a public sector company wholly owned by Government ...
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Showing 4641 to 4645 news of total 6871 |
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- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Planning Commission, India
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Parliament of New Zealand
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
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