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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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Saturday, 12 May 12
THE SHIPPING MARKET IS UNLIKELY TO SEE A REBOUND ANYTIME SOON - VISTAAR SINGAPORE
COALspot.com - The BDI softened this week and it was down by 1.64 pct closing at 1,138 points.
The cape index was up by 2.41 pct closing at 1,61 ...
Friday, 11 May 12
POLITICAL CHANGES COULD LEAD TO TEMPORARY HALT IN SHIPPING INVESTMENTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The potential of changes of political leadership in many of the world’s leading economies could very well lead to significant shifts in the di ...
Thursday, 10 May 12
DRY BULK ERRATIC ON LACK OF DIRECTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept up its erratic behavior as it went down again during yesterday’s session, on a lack of direct guidance in terms o ...
Wednesday, 09 May 12
COAL INDIA SIGNS FSAS WITH 13 POWER UNITS SO FAR - PTI
Press Trust of India has reported that, coal India has so far entered into fuel supply pacts with 13 power units, including Reliance Power's Rosa P ...
Tuesday, 08 May 12
DRY BULK MARKET LOOKING FOR NEW DIRECTION THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the BDI (Baltic Dry Index) the main benchmark of the dry bulk shipping industry not traded at the start of this week, traders, charterers and s ...
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- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- PTC India Limited - India
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- CNBM International Corporation - China
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
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