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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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Monday, 25 June 12
RIO TINTO MAKES FIRST COAL SHIPMENT FROM MOZAMBIQUE
Rio Tinto has started exporting premium hard coking coal from its Benga Mine in the Moatize Basin in Mozambique. The first shipment of 34,000 tonnes ...
Sunday, 24 June 12
SUPRAMAX FREIGHT MARKET FIRMED UP FROM INDONESIA TO INDIA - VISTAAR
COALspot.com - This week all the segments gained and marked was firm in the Supramax and Handy size sector, where as the Cape and Panamax inde ...
Saturday, 23 June 12
COAL PRICES APPETITE FOR ROLLER-COASTER RIDES
COALspot.com - SGX AsiaClear OTC Coal Swaps have suffered something of a roller-coaster ride in terms of prices during this week. SGX’s Indone ...
Friday, 22 June 12
PRESENT SPOT WEAKNESS IS TEMPORARY, SEASONAL AND RISE AS WINTER APPROACHES - BUMI
COALspot.com - PT Bumi Resources Tbk, the world’s one of the largest coal producer and Indonesia’s largest multi grade coal miner has no ...
Friday, 22 June 12
GLOBAL ACTION NEEDED ON ENERGY POVERTY - WORLD COAL
Eradicating energy poverty is possibly the biggest challenge facing the world today. Like climate change it can only be addressed with a concerted g ...
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- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
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