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