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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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Tuesday, 22 May 12
DRY BULK MARKET STEADY, AWAITING FURTHER RISE IN DEMAND WHICH IS DOUBTFUL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Traditionally, the second and third quarters of the year are the strongest for the dry bulk market, but this year, things seem to be quite subdued, ...
Sunday, 20 May 12
SPOT FREIGHT RATE DIPS FURTHER - VISTAAR
COALspot.com - The BDI was marginally up by 3 points (0.26 pct) closing at 1,141 points.
The cape index was up by 1.17 pct closing at 1,633 point ...
Saturday, 19 May 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS DROP US$ 2.88 PMT W-O-W
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for June deliveries have drops this week by 3.86 percent and& ...
Saturday, 19 May 12
INDONESIAN EXPORT TAX GIVES COAL MINERS A CHEAP RIDE: ANALYSTS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s policy to exclude coal from an export tax that has been applied to 14 other mineral commodities h ...
Friday, 18 May 12
EXPORT TAX WILL ERODE PROFITS, INDONESIAN COAL EXEC COMPLAINS - THE JAKARTA GLOBE
The Jakarta Globe reported that, A 20 percent export duty the government has imposed on 14 mineral ore products will not only take a toll on mining ...
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Showing 4721 to 4725 news of total 6871 |
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- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- CNBM International Corporation - China
- Bhatia International Limited - India
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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