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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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Sunday, 27 May 12
THE FREIGHT MARKET FROM INDONESIA TO INDIA WAS WEAK - VISTAAR
COALspot.com - The BDI continued to fall for the fourth straight week and the BDI fell by 9.38 pct this week closing at 1,034 points.
The Cape Si ...
Sunday, 27 May 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS HEADING TO SOUTH DIRECTION
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for July deliveries have dropped this week by 5.43 percent an ...
Saturday, 26 May 12
DRY BULK SHIP OWNERS LOOKING TO CUT BACK ON TONNAGE SUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The oversupply of dry bulk carriers has been the most prominent problem in the market today, pushing down rates and ‘strangling’ profita ...
Thursday, 24 May 12
DRY BULK MARKET RETREATS ON LACK OF CHINA DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market retreated yesterday on the back of lower Chinese demand for commodities such as coal and iron ore, typically hauled by dry bulk ...
Tuesday, 22 May 12
NEW ONE-YEAR TIME CHARTERS FOR TWO VESSELS OF EXCEL MARITIME CARRIERS LTD.
Excel Maritime Carriers Ltd. (NYSE: EXM), an owner and operator of dry bulk carriers and an international provider of worldwide seaborne transportat ...
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- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
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