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