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