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