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