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