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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, 08 June 12
NO IMMEDIATE IMPACT ON ADARO'S RATING FROM BEP TRANSACTION - FITCH RATINGS
Fitch Ratings has said that PT Adaro Indonesia's (Adaro, 'BB+'/ Stable) ratings are not immediately affected by its parent PT Adaro Energy Tbk's ...
Thursday, 07 June 12
DRY BULK MARKET FALLS FOR 10 STRAIGHT SESSION ON OVERSUPPLY PROBLEMS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A resurgence of oversupply, coupled with national holidays in various parts of the world has contributed to yet another fall of the dry bulk market ...
Thursday, 07 June 12
COAL EXPORT TAX NOT RATIONAL: MINISTER - THE JAKARTA POST
Trade Minister Gita Wirjawan has criticized as irrational the idea to restrict coal exports by imposing an export tax, According to The Jakarta post ...
Thursday, 07 June 12
BY 2022 PLN IS EXPECTED TO BURN AROUND 125 MILLION TONS OF COAL
COALspot.com - Indonesia's state owned electricity company's (PLN) coal consumption is expected to reach 125.7 million tons by 2012.
Nur Pamudj ...
Wednesday, 06 June 12
INDONESIAN GOVERNMENT'S DECLARED COAL PRICES CONTINUING ITS DECLINE
COALspot.com - Indonesian HBA fell to lowest level since January 2011 in June 2012. The monthly coal reference price for coal sales this month ...
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Showing 4701 to 4705 news of total 6871 |
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- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- White Energy Company Limited
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Planning Commission, India
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
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