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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, 11 June 12
BAHANA FORECASTS THE COAL PRICES WILL FALL FURTHER
COALspot.com - Growing US coal supplies + low shipping costs = Asia as target.
According to Irwan Budiarto analyst at Bahana Securities, US ...
Monday, 11 June 12
ASIAN COAL TRADING COMMUNITY EMBRACES API 5 AND API 8
Press Release - The Asian coal trading community is embracing the API 5 and API 8 indexes for its swap contracts.
The API 5 index represents 5,50 ...
Sunday, 10 June 12
FREIGHT MARKET EXPECTED TO REMAIN WEAK FOR NEXT FEW WEEKS - VISTAAR
COALspot.com - The BDI continued to fall this week and down by 2.99 pct closing at 877 points.
The Cape index also was down by 5.78 pct closing a ...
Friday, 08 June 12
ESSAR ENERGY RECEIVES FINAL APPROVAL FOR INDONESIAN COAL BLOCK
COALspot.com - Essar Energy plc, the India-focused integrated energy company, today announced that it has received final ‘Pinjam Pakai’ ...
Friday, 08 June 12
MINISTER DENIES COAL EXPORT TAX PLAN, ENDORSES RESTRICTIONS - THE JAKARTA POST
The Jakarta post, one of the leading english news paper in Indonesia reported that, Energy and Mineral Resources Minister Jero Wacik has denied that ...
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- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
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- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Bhatia International Limited - India
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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