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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, 04 June 12
MITRABAHTERA SUBSIDIARY SECURES CONTRACT FROM BERAU COAL - INSIDER STORIES
Insider Stories reported that, PT Mitra Alam Segara Sejati, a subsidiary that is 60% owned by PT Mitrabahtera Segara Sejati Tbk (MBSS), has secur ...
Sunday, 03 June 12
TTI ESTABLISHES COAL TRADING & MARKETING OFFICE
COALspot.com - TTI has officially established its coal trading, marketing-office in Jakarta, Indonesia. PT. Gunung Tinggi Coal is the TTI’s fi ...
Sunday, 03 June 12
FREIGHT MARKET CONTINUING ITS DECLINE
COALspot.com - The BDI continued to fall for the fifth straight week and the BDI fell by 2.57 pct this week closing at 904 points.
The Cape Size ...
Friday, 01 June 12
TNPL HAS SECURED 300K MT OF 6000 GAD COAL AT US$ 81 CNF TUTICORIN
COALspot.com - An India based coal trader Adani has offered the lowest price of US$ 81.00 per metric ton for calorific value of 6000 GAD and 15 perc ...
Friday, 01 June 12
COKAL ACCEPTED ON THE CLEAN AND CLEAR LIST FOR ITS BORNEO BARA PRIMA AND BUMI BARITO MINERAL PROJECTS
- Borneo Bara Prima (BBP) Project confirmed on the Clean and Clear List 9th May 2012
- Bumi Barito Mineral (BBM) Project confirmed on the Clean and ...
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Showing 4706 to 4710 news of total 6871 |
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- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Economic Council, Georgia
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