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