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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, 18 May 12
KOREA EAST WEST POWER LOOKING FOR TOTAL 2.6 MILLION TONS OF 4600 NAR COAL AT FIXED PRICE FOR 5 YEARS
COALspot.com - Korea East West Power Co., Ltd is inviting bids to supply of 520,000 Metric Tons (per annum) of minimum 4,600 kcal/kg coal of N ...
Friday, 18 May 12
NICKEL ORE CARGOES ARE NOT SEEN IN MARKET ANYMORE DUE TO ON-GOING INDONESIAN BAN - FEARNLEYS AS
Handy
The market remained variable.
Fronthaul voyages both from Baltic and Black Sea paid over USD 18k/day. From USG to Cont tonnage would get ...
Thursday, 17 May 12
COAL MINERS OPPOSE EXPORT TAX, SUGGEST OUTPUT QUOTA - THE JAKARTA POST
The Jakarta Post reported that, coal miners have suggested that the government apply a production quota instead of implementing an export tax in ord ...
Thursday, 17 May 12
DRY BULK MARKET STILL LOOKING FOR NEW DIRECTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept on moving sideways during this week, with the mixed performance across all segments. Yesterday, the industry’s be ...
Tuesday, 15 May 12
POTENTIAL BOOM OF CHINAS COAL IMPORTS COULD PROVIDE FURTHER SUPPORT TO DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been moving sideways during the past week with the industry’s benchmark, the Baltic Dry Index (BDI) losing 0.53% on th ...
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Showing 4726 to 4730 news of total 6871 |
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- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Economic Council, Georgia
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
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