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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, 14 July 12
FREIGHT MARKET SEEMS TO BE QUITE VOLATILE - VISTAAR
COALspot.com - The market seems to be quite volatile with the trend changing almost every week. This week all the segments were down except for Pana ...
Friday, 13 July 12
TRANSCOAL MINERGY HAS RECEIVED PMA STATUS IN INDONESIA
COALspot.com - PT Transcoal Minergy (“TCM”) has received official foreign owned company status from the Capital Investment Coordinating ...
Thursday, 12 July 12
LACK OF CAPESIZE DEMAND DRAGS DRY BULK MARKET LOWER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A lack of demand for the larger Capesize dry bulk carriers had as a result the fall of the industry’s benchmark, the BDI (Baltic Dry Index), w ...
Thursday, 12 July 12
RIO TINTO'S SENIOR MANAGEMENT CHANGES
COALspot.com - Rio Tinto is making changes to its senior management team as chief financial officer (CFO) Guy Elliott has decided to retire at the e ...
Thursday, 12 July 12
SOUTHGOBI RESOURCES ANNOUNCES NOTICE OF INVESTMENT DISPUTE FILED AGAINST MONGOLIAN GOVERNMENT
Press Release - SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) (“SouthGobi”) announced today that SGQ Coal Investment Pte. Ltd., a wholly ...
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- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Marubeni Corporation - India
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Economic Council, Georgia
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
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