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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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Saturday, 21 July 12
INDONESIAN COMPANIES ABM INVESTAMA AND AVRA ASIA WORK OUT LONG-TERM CONTRACT - THE JAKARTA GLOBE
The Jakarta Globe, one of the leading English news papaer in Indonesia reported that, ABM Investama, a company with diversified interests in coal mi ...
Friday, 20 July 12
INDONESIA-INDIA SUPRAS BEING FIXED AT $ 10K
Handy
After a stable last week, the Handysize market has experienced softening rates in the Atlantic. Ships are ballasting from India into the Atla ...
Friday, 20 July 12
HANDYSIZES PROVE RATHER ATTRACTIVE AMONG OTHER SHIPS, IN TERMS OF FUTURE RETURNS ON INVESTMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The Handysize segment of the dry bulk market appears to offer the best incentive among other ship types, for a ship owners to invest in, says Interm ...
Wednesday, 18 July 12
TAIWAN POWER COMPANY TO IMPORT 0.588 MILLION TONS OF LOW ASH AND EXTRA LOW SULFUR SUB-BITUMINOUS COAL
COALspot.com - Taiwan Power Company intends to procure 588,000 MT tons of extra low sulfur sub-bituminous coal for Taipower thermal power plant thro ...
Wednesday, 18 July 12
SHIP PRICES HAVE FALLEN RAPIDLY THIS YEAR, FAVORING INVESTORS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The price for a 5 year old Capesize dry bulk carrier of 172,000 dwt has fallen to about $33,4mil from $42.9 at the end of June 2011, while at end of ...
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Showing 4651 to 4655 news of total 6871 |
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- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Planning Commission, India
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
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