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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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Friday, 22 June 12
COAL: THE BACKBONE OF MODERN ELECTRICITY - ECOAL
Coal has been described as the "forgotten fuel," perhaps because many aren't aware of the huge role it plays in powering the global econo ...
Thursday, 21 June 12
DRY BULK MARKET ON THE RISE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was on the rise once again yesterday, with the Baltic Dry Index (BDI), the industry’s benchmark, rising by 18 points, or 1 ...
Wednesday, 20 June 12
BDI MOVING HIGHER, PANAMAX AND SUPRAMAX VESSELS STRONGER, CAPESIZE RATES NEAR TO HISTORICAL LOWS OF DECEMBER 2008 - MARIA BERTZELETOU, HELLENIC SHIPPING
The dry market seems to follow the dynamic of the previous week with the Baltic Dry Index showing daily increases since June 8th, but is still stand ...
Tuesday, 19 June 12
SMALLER DRY BULK CARRIERS LIFT UP MARKET, PANAMAXES SET TO FALL SAYS ANALYST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Another rise for the dry bulk market was evident yesterday, as the industry’s benchmark, the BDI (Baltic Dry Index) was up for a ninth straigh ...
Sunday, 17 June 12
S7 & S8 ROUTES ARE LIKELY TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - The BDI gained some increase after continues fall for several weeks.
The BDI increased by 47 points (up by 5.36 pct) closing at 92 ...
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- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- VISA Power Limited - India
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
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