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