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