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