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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, 07 July 12
BALTIC INDEX UP ON STRONG CAPE, PANAMAX RATES - VISTAAR
COALspot.com - This week all the segments were firmed up with BDI up by 15.23 pct (up by 153 points) closing at 1,157 points.
The cape index also ...
Saturday, 07 July 12
DRY BULK MARKET NOT ABLE TO FIND SOLID GROUND SAY EXPERTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the second half of each, traditionally looking the most active one, especially in terms of newbuildings being delivered, it's highly unlikely ...
Thursday, 05 July 12
GOVT GETS READY FOR $1.8B SUIT - THE JAKARTA POST
The Jakarta Post, one of the leading Indonesian English new papers reported that, several ministries and the Attorney General’s Office held a ...
Thursday, 05 July 12
DRY BULK MARKET MOVES FURTHER UP THE HILL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its growth momentum by the middle of the week, as the BDI (Baltic Dry Index) rose by an additional 40 points to 1,103 p ...
Thursday, 05 July 12
BUMI ACHIEVES HIGHER SELLING PRICE IN FIRST QUARTER
COALspot.com - PT Bumi Resources Tbk (BUMI), Indonesia's largest coal producer and exporter, has successfully maintained a higher sales margin, des ...
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- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Anglo American - United Kingdom
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- PTC India Limited - India
- SMG Consultants - Indonesia
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