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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, 01 June 12
ADARO BUYS MAJORITY STAKE IN AFFILIATED BHAKTI ENERGI - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk entered into an option to provide a convertible loan of up to US$500 million for a period of 3 ye ...
Thursday, 31 May 12
DRY BULK MARKET UNABLE TO FIND NEW SUPPORT TO REACH HIGHER LEVELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been unable to find new support and recover to higher levels during these past few days. As a result, the Baltic Dry Index ( ...
Wednesday, 30 May 12
ORPHEUS RAISES $2.24M TO ADVANCE INDONESIAN COAL PRODUCTION ASSETS
• $2.24 million raised from a placement to new and existing institutional and sophisticated investors from Australia and overseas
• Funds ...
Wednesday, 30 May 12
ARPENI SECURES TRANSSHIPMENT CONTRACT FROM BARUNA DIRGA
Insider Stories reported that, shipping operator PT Arpeni Pratama Ocean Line Tbk (APOL) has secured a 1-year coal transhipment contract of 4 millio ...
Monday, 28 May 12
COAL EXPORTS ARE JUMPING HIGHER, BUT PRICES ARE FALLING LOWER
COALspot.com: Indonesia, the world largest coal exporter, shipped 31.86* million tons of coal in April 2012, compared to 30.64* million tons i ...
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Showing 4711 to 4715 news of total 6871 |
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- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Planning Commission, India
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- VISA Power Limited - India
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
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