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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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Tuesday, 03 July 12
DRY BULK MARKET INCHED FORWARD AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched forward at the beginning of the new week, prior to the US holidays regarding the celebration of the 4th of July, which is ...
Monday, 02 July 12
ORPHEUS STRENGTHENS REVENUE STREAM WITH NEW ROYALTY AGREEMENT AT THE B2 COAL PROJECT
Orpheus Energy (ASX:OEG) is pleased to advise that it has executed a life of mine Royalty Agreement with Indonesian mining contractor PT Debbia Mini ...
Monday, 02 July 12
DRY BULK DEMAND TO RISE TO 3.6 BILLION TONNES IN 2012, BUT NEW BUILDING DELIVERIES ARE
In its latest analysis on the dry bulk market fundamentals, DVB Bank said that dry bulk cargo demand is forecast to rise to approximately 3.6 billio ...
Sunday, 01 July 12
AUSTRALIAS CARBON TAX - SUNIL K KUMBHAT
COALspot.com - Climate Change
Climate change and global warming have now become buzzwords the world over. The disastrous consequences for global ...
Sunday, 01 July 12
DSP OF SGX ASIACLEAR OTC COAL SWAP'S THIS WEEKS MOVEMENTS SLIGHTLY POSITIVE
COALspot.com - SGX AsiaClear OTC Coal Swaps have recovered slightly this week and Q4 deliveries are also showing positive direction.
SGX’s ...
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- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- PTC India Limited - India
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Planning Commission, India
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
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