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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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Saturday, 16 June 12
INDONESIAN SUB-BITUMINOUS COAL & CFR SOUTH CHINA COAL CONTRACT SWAPS ARE UNDER PRESSURE
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for July deliveries seems to be under pressure this week.&nbs ...
Friday, 15 June 12
CAPESIZE - THE LEVELS THAT DID FIX ARE DOWN W-O-W LEVELS - FEARNLEYS
Handy
Another slow-moving market with rates hovering at same level as last week. US Gulf positions fixed USD 25,000 for trips to Cont/Passero and S ...
Thursday, 14 June 12
SMALLER DRY BULK CARRIERS LIKELY TO FACE MORE CHALLENGES; DEMOLITION ACTIVITY SET FOR RECORD YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest update on the dry bulk markets, BIMCO said that China is partly “failing to deliver” on raw material imports that can affe ...
Wednesday, 13 June 12
LOW COAL PRICES COULD CHANGE SUPPLY SIDE DYNAMICS - FITCH RATINGS
Fitch Ratings believes that the weakness seen in thermal coal prices in recent months should reverse once demand from major importers recovers, alth ...
Tuesday, 12 June 12
ITACHA RESOURCES BUYS SARANA MARINE - INSIDER STORIES
Insider Stories reported that, coal mining company PT Itacha Resources, a joint venture between Anthoni Salim and Glenn Yusuf, announced that Itacha ...
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- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Parliament of New Zealand
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- White Energy Company Limited
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
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