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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, 30 June 12
THE FREIGHT RATES ARE EXPECTED TO BE STEADY TO FIRM NEXT WEEK - VISTAAR SINGAPORE
COALspot.com – The BDI was up by 2.66 pct (up by 26 points) closing at 1,004 points crossing the 1000 point barrier this week.
The c ...
Friday, 29 June 12
INDONESIAN PRODUCERS ARE PLANNING TO CUT PRODUCTION IF COAL PRICES FALL FURTHER
COALspot.com: Indonesia, the world largest multi grade coal exporter, shipped 31.54* million tons of coal in May 2012, compared to 31.86* mill ...
Friday, 29 June 12
DRY BULK SHIP OWNERS DOING THEIR MATHS BEFORE PLACING NEWBUILDING ORDERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With oversupply having plagued the dry bulk shipping fleet since the end of 2011, it’s become ever so evident that placing a newbuilding order ...
Thursday, 28 June 12
DRY BULK MARKET HIGHER ON CAPESIZE OPTIMISM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched a bit higher yesterday, as the BDI (Baltic Dry Index) ended up by 0.71% to 988 points. Most ship types were up, with the ...
Wednesday, 27 June 12
DIRECTORATE GENERAL OF MINERAL AND COAL OF INDONESIA INTRODUCES ON-LINE SYSTEM FOR MINING PRODUCTS EXPORT APPROVAL
COALspot.com - Directorate General of Mineral and Coal of Indonesia has released "Clear and Clean" certificate for another 33 coal miners ...
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- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
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