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